{smcl}
{com}{sf}{ul off}{txt}{.-}
      name:  {res}<unnamed>
       {txt}log:  {res}/Users/ben/Dropbox/Reserves/Manuscript/ISQ/Revision/_Acceptance/Replication/AppendixReplicationLog.smcl
  {txt}log type:  {res}smcl
 {txt}opened on:  {res} 8 May 2025, 13:30:33

{com}. do "/var/folders/pr/h4w2r5k51bl349y890ld5xjw0000gn/T//SD67664.000000"
{txt}
{com}. *Appendix Replication file for "Global Finance, Political Business Cycles, and the Politics of Foreign Reserves"
. *Ben Cormier and Patrick Shea
. *Analysis run in Stata 15
. *Data sources cited in text
. 
. *Packages:
. *ssc install estout
. *ssc install ebalance
. *ssc install interflex
. 
. 
. use "data1_final.dta", clear
{txt}
{com}. 
. 
. ***************************************************************************************************************************************************************************
. *Data prep
. tsset country_num year
{res}{txt}{col 8}panel variable:  {res}country_num (unbalanced)
{txt}{col 9}time variable:  {res}{col 25}year, 2000 to 2023
{txt}{col 17}delta:  {res}1 unit
{txt}
{com}. *Set color scheme for plots
. set scheme s1mono
{txt}
{com}. grstyle init
{res}{txt}
{com}. grstyle set plain, nogrid 
{txt}
{com}. 
. *Subset to developing
. keep if oecd_1yes == 0
{txt}(868 observations deleted)

{com}. *Subset to VDem democracy level
. keep if v2x_polyarchy > .42
{txt}(1,516 observations deleted)

{com}. 
. 
. ***************************************************************************************************************************************************************************
. *Section A: Country Years (from full model)
. regress deltaReserves_Imports i.ElectionPeriod##c.US10YrYields_AnnAvg ElectionYear l.deltaReserves_Imports l.GDPpcap l.GDPgrowth l.ny_gdp_totl_rt_zs l.CurrAcctBal_PerGDP l.ExtDebtStocks_PerGNI l.DebtService_PerGDP l.Inflation_annGDPdeflator l.PegBandManaged_NoUnion l.lvaw_garriga l.Taxes_PerGDP l.BestCRtg l.cyrs l.dyrs l.v2x_polyarchy l.Left i.country_num c.year##c.GlobalReserveLevels, robust

{txt}Linear regression                               Number of obs     = {res}       700
                                                {txt}{help j_robustsingular:F(70, 627) }       =  {res}        .
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.1061
                                                {txt}Root MSE          =    {res} 1.0746

{txt}{hline 37}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 38}{c |}{col 50}    Robust
{col 1}               deltaReserves_Imports{col 38}{c |}      Coef.{col 50}   Std. Err.{col 62}      t{col 70}   P>|t|{col 78}     [95% Con{col 91}f. Interval]
{hline 37}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 20}1.ElectionPeriod {c |}{col 38}{res}{space 2} .3794194{col 50}{space 2} .2390909{col 61}{space 1}    1.59{col 70}{space 3}0.113{col 78}{space 4}-.0900965{col 91}{space 3} .8489353
{txt}{space 17}US10YrYields_AnnAvg {c |}{col 38}{res}{space 2} -.192287{col 50}{space 2} .0943552{col 61}{space 1}   -2.04{col 70}{space 3}0.042{col 78}{space 4}-.3775776{col 91}{space 3}-.0069965
{txt}{space 36} {c |}
ElectionPeriod#c.US10YrYields_AnnAvg {c |}
{space 34}1  {c |}{col 38}{res}{space 2}-.1835379{col 50}{space 2} .0723319{col 61}{space 1}   -2.54{col 70}{space 3}0.011{col 78}{space 4}  -.32558{col 91}{space 3}-.0414959
{txt}{space 36} {c |}
{space 24}ElectionYear {c |}{col 38}{res}{space 2} .1625519{col 50}{space 2} .1303701{col 61}{space 1}    1.25{col 70}{space 3}0.213{col 78}{space 4} -.093463{col 91}{space 3} .4185667
{txt}{space 36} {c |}
{space 15}deltaReserves_Imports {c |}
{space 33}L1. {c |}{col 38}{res}{space 2}-.1683853{col 50}{space 2} .0567362{col 61}{space 1}   -2.97{col 70}{space 3}0.003{col 78}{space 4}-.2798013{col 91}{space 3}-.0569693
{txt}{space 36} {c |}
{space 29}GDPpcap {c |}
{space 33}L1. {c |}{col 38}{res}{space 2} .0000956{col 50}{space 2} .0000587{col 61}{space 1}    1.63{col 70}{space 3}0.104{col 78}{space 4}-.0000197{col 91}{space 3} .0002108
{txt}{space 36} {c |}
{space 27}GDPgrowth {c |}
{space 33}L1. {c |}{col 38}{res}{space 2} .0057915{col 50}{space 2} .0177405{col 61}{space 1}    0.33{col 70}{space 3}0.744{col 78}{space 4}-.0290465{col 91}{space 3} .0406295
{txt}{space 36} {c |}
{space 19}ny_gdp_totl_rt_zs {c |}
{space 33}L1. {c |}{col 38}{res}{space 2}-.0119801{col 50}{space 2} .0205301{col 61}{space 1}   -0.58{col 70}{space 3}0.560{col 78}{space 4}-.0522961{col 91}{space 3}  .028336
{txt}{space 36} {c |}
{space 18}CurrAcctBal_PerGDP {c |}
{space 33}L1. {c |}{col 38}{res}{space 2} .0022513{col 50}{space 2} .0079043{col 61}{space 1}    0.28{col 70}{space 3}0.776{col 78}{space 4}-.0132708{col 91}{space 3} .0177734
{txt}{space 36} {c |}
{space 16}ExtDebtStocks_PerGNI {c |}
{space 33}L1. {c |}{col 38}{res}{space 2}-.0010426{col 50}{space 2} .0011692{col 61}{space 1}   -0.89{col 70}{space 3}0.373{col 78}{space 4}-.0033387{col 91}{space 3} .0012534
{txt}{space 36} {c |}
{space 18}DebtService_PerGDP {c |}
{space 33}L1. {c |}{col 38}{res}{space 2}-.9433984{col 50}{space 2} 1.169534{col 61}{space 1}   -0.81{col 70}{space 3}0.420{col 78}{space 4}-3.240076{col 91}{space 3} 1.353279
{txt}{space 36} {c |}
{space 12}Inflation_annGDPdeflator {c |}
{space 33}L1. {c |}{col 38}{res}{space 2} .0111616{col 50}{space 2} .0075663{col 61}{space 1}    1.48{col 70}{space 3}0.141{col 78}{space 4}-.0036968{col 91}{space 3}   .02602
{txt}{space 36} {c |}
{space 14}PegBandManaged_NoUnion {c |}
{space 33}L1. {c |}{col 38}{res}{space 2} .1832435{col 50}{space 2} .1648495{col 61}{space 1}    1.11{col 70}{space 3}0.267{col 78}{space 4}-.1404805{col 91}{space 3} .5069674
{txt}{space 36} {c |}
{space 24}lvaw_garriga {c |}
{space 33}L1. {c |}{col 38}{res}{space 2}-.4323541{col 50}{space 2} .6031428{col 61}{space 1}   -0.72{col 70}{space 3}0.474{col 78}{space 4}-1.616779{col 91}{space 3} .7520704
{txt}{space 36} {c |}
{space 24}Taxes_PerGDP {c |}
{space 33}L1. {c |}{col 38}{res}{space 2} 4.811156{col 50}{space 2} 2.322376{col 61}{space 1}    2.07{col 70}{space 3}0.039{col 78}{space 4} .2505784{col 91}{space 3} 9.371733
{txt}{space 36} {c |}
{space 28}BestCRtg {c |}
{space 33}L1. {c |}{col 38}{res}{space 2}  .056198{col 50}{space 2} .0301544{col 61}{space 1}    1.86{col 70}{space 3}0.063{col 78}{space 4}-.0030178{col 91}{space 3} .1154139
{txt}{space 36} {c |}
{space 32}cyrs {c |}
{space 33}L1. {c |}{col 38}{res}{space 2} .0134074{col 50}{space 2} .0134228{col 61}{space 1}    1.00{col 70}{space 3}0.318{col 78}{space 4}-.0129516{col 91}{space 3} .0397664
{txt}{space 36} {c |}
{space 32}dyrs {c |}
{space 33}L1. {c |}{col 38}{res}{space 2}-.0198848{col 50}{space 2} .0116364{col 61}{space 1}   -1.71{col 70}{space 3}0.088{col 78}{space 4}-.0427358{col 91}{space 3} .0029662
{txt}{space 36} {c |}
{space 23}v2x_polyarchy {c |}
{space 33}L1. {c |}{col 38}{res}{space 2} .6132748{col 50}{space 2} .9504854{col 61}{space 1}    0.65{col 70}{space 3}0.519{col 78}{space 4}-1.253245{col 91}{space 3} 2.479795
{txt}{space 36} {c |}
{space 29}LeftGov {c |}
{space 33}L1. {c |}{col 38}{res}{space 2}-.0610857{col 50}{space 2} .1206389{col 61}{space 1}   -0.51{col 70}{space 3}0.613{col 78}{space 4}-.2979908{col 91}{space 3} .1758195
{txt}{space 36} {c |}
{space 25}country_num {c |}
{space 32}ARG  {c |}{col 38}{res}{space 2}-1.294414{col 50}{space 2} .6801944{col 61}{space 1}   -1.90{col 70}{space 3}0.057{col 78}{space 4}-2.630149{col 91}{space 3} .0413207
{txt}{space 32}ARM  {c |}{col 38}{res}{space 2}-.0425544{col 50}{space 2} .3019712{col 61}{space 1}   -0.14{col 70}{space 3}0.888{col 78}{space 4}-.6355518{col 91}{space 3}  .550443
{txt}{space 32}BGD  {c |}{col 38}{res}{space 2} .1974733{col 50}{space 2} .4987269{col 61}{space 1}    0.40{col 70}{space 3}0.692{col 78}{space 4} -.781904{col 91}{space 3} 1.176851
{txt}{space 32}BGR  {c |}{col 38}{res}{space 2} .0312461{col 50}{space 2} .4031292{col 61}{space 1}    0.08{col 70}{space 3}0.938{col 78}{space 4}-.7604007{col 91}{space 3}  .822893
{txt}{space 32}BIH  {c |}{col 38}{res}{space 2} .1422084{col 50}{space 2} .3326583{col 61}{space 1}    0.43{col 70}{space 3}0.669{col 78}{space 4}-.5110509{col 91}{space 3} .7954676
{txt}{space 32}BRA  {c |}{col 38}{res}{space 2}-.4853242{col 50}{space 2} .8060287{col 61}{space 1}   -0.60{col 70}{space 3}0.547{col 78}{space 4}-2.068167{col 91}{space 3} 1.097518
{txt}{space 32}BWA  {c |}{col 38}{res}{space 2}-.9792093{col 50}{space 2} .7652648{col 61}{space 1}   -1.28{col 70}{space 3}0.201{col 78}{space 4}-2.482002{col 91}{space 3} .5235831
{txt}{space 32}DOM  {c |}{col 38}{res}{space 2} .1314657{col 50}{space 2} .3285879{col 61}{space 1}    0.40{col 70}{space 3}0.689{col 78}{space 4}-.5138004{col 91}{space 3} .7767318
{txt}{space 32}ECU  {c |}{col 38}{res}{space 2} .0556457{col 50}{space 2} .3914122{col 61}{space 1}    0.14{col 70}{space 3}0.887{col 78}{space 4}-.7129919{col 91}{space 3} .8242833
{txt}{space 32}GEO  {c |}{col 38}{res}{space 2}  .043162{col 50}{space 2} .2988344{col 61}{space 1}    0.14{col 70}{space 3}0.885{col 78}{space 4}-.5436755{col 91}{space 3} .6299994
{txt}{space 32}GHA  {c |}{col 38}{res}{space 2} .3662163{col 50}{space 2}  .543889{col 61}{space 1}    0.67{col 70}{space 3}0.501{col 78}{space 4}-.7018483{col 91}{space 3} 1.434281
{txt}{space 32}GMB  {c |}{col 38}{res}{space 2} 1.269376{col 50}{space 2}  .599357{col 61}{space 1}    2.12{col 70}{space 3}0.035{col 78}{space 4} .0923865{col 91}{space 3} 2.446367
{txt}{space 32}GTM  {c |}{col 38}{res}{space 2} .8396234{col 50}{space 2} .3319864{col 61}{space 1}    2.53{col 70}{space 3}0.012{col 78}{space 4} .1876837{col 91}{space 3} 1.491563
{txt}{space 32}HND  {c |}{col 38}{res}{space 2}-.1839714{col 50}{space 2} .2974942{col 61}{space 1}   -0.62{col 70}{space 3}0.537{col 78}{space 4} -.768177{col 91}{space 3} .4002343
{txt}{space 32}HTI  {c |}{col 38}{res}{space 2} .7741429{col 50}{space 2} .6201671{col 61}{space 1}    1.25{col 70}{space 3}0.212{col 78}{space 4}-.4437131{col 91}{space 3} 1.991999
{txt}{space 32}IDN  {c |}{col 38}{res}{space 2} .4484658{col 50}{space 2} .4397973{col 61}{space 1}    1.02{col 70}{space 3}0.308{col 78}{space 4}-.4151883{col 91}{space 3}  1.31212
{txt}{space 32}IND  {c |}{col 38}{res}{space 2} .4750586{col 50}{space 2} .6896112{col 61}{space 1}    0.69{col 70}{space 3}0.491{col 78}{space 4}-.8791686{col 91}{space 3} 1.829286
{txt}{space 32}JAM  {c |}{col 38}{res}{space 2}-.3739238{col 50}{space 2} .5104274{col 61}{space 1}   -0.73{col 70}{space 3}0.464{col 78}{space 4}-1.376278{col 91}{space 3} .6284304
{txt}{space 32}KEN  {c |}{col 38}{res}{space 2} .3370033{col 50}{space 2}  .352664{col 61}{space 1}    0.96{col 70}{space 3}0.340{col 78}{space 4}-.3555423{col 91}{space 3} 1.029549
{txt}{space 32}KGZ  {c |}{col 38}{res}{space 2} .1260915{col 50}{space 2} .3624499{col 61}{space 1}    0.35{col 70}{space 3}0.728{col 78}{space 4}-.5856712{col 91}{space 3} .8378542
{txt}{space 32}LBN  {c |}{col 38}{res}{space 2} .6653109{col 50}{space 2} .6021402{col 61}{space 1}    1.10{col 70}{space 3}0.270{col 78}{space 4}-.5171448{col 91}{space 3} 1.847766
{txt}{space 32}LBR  {c |}{col 38}{res}{space 2} .8318603{col 50}{space 2} .6093185{col 61}{space 1}    1.37{col 70}{space 3}0.173{col 78}{space 4}-.3646918{col 91}{space 3} 2.028412
{txt}{space 32}LKA  {c |}{col 38}{res}{space 2}  .001135{col 50}{space 2} .3938389{col 61}{space 1}    0.00{col 70}{space 3}0.998{col 78}{space 4} -.772268{col 91}{space 3}  .774538
{txt}{space 32}LSO  {c |}{col 38}{res}{space 2}-.7858342{col 50}{space 2} .7147753{col 61}{space 1}   -1.10{col 70}{space 3}0.272{col 78}{space 4}-2.189478{col 91}{space 3} .6178092
{txt}{space 32}MDA  {c |}{col 38}{res}{space 2} .0049124{col 50}{space 2} .2567391{col 61}{space 1}    0.02{col 70}{space 3}0.985{col 78}{space 4}-.4992603{col 91}{space 3}  .509085
{txt}{space 32}MDG  {c |}{col 38}{res}{space 2} .5533826{col 50}{space 2} .4418145{col 61}{space 1}    1.25{col 70}{space 3}0.211{col 78}{space 4}-.3142326{col 91}{space 3} 1.420998
{txt}{space 32}MNG  {c |}{col 38}{res}{space 2}  .055646{col 50}{space 2} .5012102{col 61}{space 1}    0.11{col 70}{space 3}0.912{col 78}{space 4}-.9286079{col 91}{space 3}   1.0399
{txt}{space 32}MOZ  {c |}{col 38}{res}{space 2} .3670698{col 50}{space 2} .5933713{col 61}{space 1}    0.62{col 70}{space 3}0.536{col 78}{space 4}-.7981659{col 91}{space 3} 1.532305
{txt}{space 32}MRT  {c |}{col 38}{res}{space 2} 1.510248{col 50}{space 2} .6010296{col 61}{space 1}    2.51{col 70}{space 3}0.012{col 78}{space 4} .3299731{col 91}{space 3} 2.690522
{txt}{space 32}MUS  {c |}{col 38}{res}{space 2}-.3685773{col 50}{space 2} .5658939{col 61}{space 1}   -0.65{col 70}{space 3}0.515{col 78}{space 4}-1.479854{col 91}{space 3} .7426995
{txt}{space 32}MWI  {c |}{col 38}{res}{space 2}  .159606{col 50}{space 2}  .452823{col 61}{space 1}    0.35{col 70}{space 3}0.725{col 78}{space 4}-.7296274{col 91}{space 3} 1.048839
{txt}{space 32}NIC  {c |}{col 38}{res}{space 2}  .570653{col 50}{space 2} .3388786{col 61}{space 1}    1.68{col 70}{space 3}0.093{col 78}{space 4}-.0948215{col 91}{space 3} 1.236128
{txt}{space 32}NPL  {c |}{col 38}{res}{space 2}-.0077277{col 50}{space 2} .7695632{col 61}{space 1}   -0.01{col 70}{space 3}0.992{col 78}{space 4}-1.518961{col 91}{space 3} 1.503506
{txt}{space 32}PAK  {c |}{col 38}{res}{space 2} .0144289{col 50}{space 2} .6543713{col 61}{space 1}    0.02{col 70}{space 3}0.982{col 78}{space 4}-1.270596{col 91}{space 3} 1.299454
{txt}{space 32}PAN  {c |}{col 38}{res}{space 2}-.7065794{col 50}{space 2} .7595913{col 61}{space 1}   -0.93{col 70}{space 3}0.353{col 78}{space 4} -2.19823{col 91}{space 3} .7850715
{txt}{space 32}PER  {c |}{col 38}{res}{space 2} .2330037{col 50}{space 2} .5039389{col 61}{space 1}    0.46{col 70}{space 3}0.644{col 78}{space 4}-.7566087{col 91}{space 3} 1.222616
{txt}{space 32}PHL  {c |}{col 38}{res}{space 2} .5979803{col 50}{space 2} .4172905{col 61}{space 1}    1.43{col 70}{space 3}0.152{col 78}{space 4} -.221476{col 91}{space 3} 1.417437
{txt}{space 32}PNG  {c |}{col 38}{res}{space 2} .5469278{col 50}{space 2} .5542409{col 61}{space 1}    0.99{col 70}{space 3}0.324{col 78}{space 4}-.5414654{col 91}{space 3} 1.635321
{txt}{space 32}PRY  {c |}{col 38}{res}{space 2} .4167326{col 50}{space 2} .4105519{col 61}{space 1}    1.02{col 70}{space 3}0.310{col 78}{space 4}-.3894907{col 91}{space 3} 1.222956
{txt}{space 32}ROU  {c |}{col 38}{res}{space 2}-.1989381{col 50}{space 2}  .430799{col 61}{space 1}   -0.46{col 70}{space 3}0.644{col 78}{space 4}-1.044922{col 91}{space 3} .6470455
{txt}{space 32}SLE  {c |}{col 38}{res}{space 2} .7077446{col 50}{space 2} .4864003{col 61}{space 1}    1.46{col 70}{space 3}0.146{col 78}{space 4}-.2474263{col 91}{space 3} 1.662916
{txt}{space 32}SLV  {c |}{col 38}{res}{space 2} .2334113{col 50}{space 2} .2963537{col 61}{space 1}    0.79{col 70}{space 3}0.431{col 78}{space 4}-.3485547{col 91}{space 3} .8153773
{txt}{space 32}THA  {c |}{col 38}{res}{space 2}-.4556675{col 50}{space 2} .5471779{col 61}{space 1}   -0.83{col 70}{space 3}0.405{col 78}{space 4}-1.530191{col 91}{space 3} .6188557
{txt}{space 32}TLS  {c |}{col 38}{res}{space 2} 2.380668{col 50}{space 2} 2.005239{col 61}{space 1}    1.19{col 70}{space 3}0.236{col 78}{space 4}-1.557129{col 91}{space 3} 6.318466
{txt}{space 32}TUN  {c |}{col 38}{res}{space 2}-.2924956{col 50}{space 2} .6646133{col 61}{space 1}   -0.44{col 70}{space 3}0.660{col 78}{space 4}-1.597633{col 91}{space 3} 1.012642
{txt}{space 32}TZA  {c |}{col 38}{res}{space 2} .2864639{col 50}{space 2} .4720497{col 61}{space 1}    0.61{col 70}{space 3}0.544{col 78}{space 4} -.640526{col 91}{space 3} 1.213454
{txt}{space 32}UKR  {c |}{col 38}{res}{space 2}-.2911673{col 50}{space 2} .4404147{col 61}{space 1}   -0.66{col 70}{space 3}0.509{col 78}{space 4}-1.156034{col 91}{space 3} .5736992
{txt}{space 32}ZAF  {c |}{col 38}{res}{space 2}-.2804164{col 50}{space 2} .5953454{col 61}{space 1}   -0.47{col 70}{space 3}0.638{col 78}{space 4}-1.449529{col 91}{space 3}  .888696
{txt}{space 32}ZMB  {c |}{col 38}{res}{space 2} .2499878{col 50}{space 2} .5391143{col 61}{space 1}    0.46{col 70}{space 3}0.643{col 78}{space 4}-.8087005{col 91}{space 3} 1.308676
{txt}{space 36} {c |}
{space 32}year {c |}{col 38}{res}{space 2} .1478727{col 50}{space 2} .0581677{col 61}{space 1}    2.54{col 70}{space 3}0.011{col 78}{space 4} .0336456{col 91}{space 3} .2620998
{txt}{space 17}GlobalReserveLevels {c |}{col 38}{res}{space 2} 2.29e-11{col 50}{space 2} 8.87e-12{col 61}{space 1}    2.58{col 70}{space 3}0.010{col 78}{space 4} 5.46e-12{col 91}{space 3} 4.03e-11
{txt}{space 36} {c |}
{space 8}c.year#c.GlobalReserveLevels {c |}{col 38}{res}{space 2}-1.15e-14{col 50}{space 2} 4.43e-15{col 61}{space 1}   -2.59{col 70}{space 3}0.010{col 78}{space 4}-2.02e-14{col 91}{space 3}-2.79e-15
{txt}{space 36} {c |}
{space 31}_cons {c |}{col 38}{res}{space 2}-296.6319{col 50}{space 2} 116.4123{col 61}{space 1}   -2.55{col 70}{space 3}0.011{col 78}{space 4}-525.2371{col 91}{space 3}-68.02668
{txt}{hline 37}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. gen in_model = e(sample)
{txt}
{com}. keep if in_model==1
{txt}(819 observations deleted)

{com}. *Then export into an excel and manually identify country-years in sample. For eg, use "export excel using "/Users/ben/Dropbox/Reserves/Appendix/CtyYears.xlsx"
. 
. 
. ***************************************************************************************************************************************************************************
. *Section B: Descriptive Stats for complete cases in Model 4
. regress deltaReserves_Imports i.ElectionPeriod##c.US10YrYields_AnnAvg ElectionYear l.deltaReserves_Imports l.GDPpcap l.GDPgrowth l.ny_gdp_totl_rt_zs l.CurrAcctBal_PerGDP l.ExtDebtStocks_PerGNI l.DebtService_PerGDP l.Inflation_annGDPdeflator l.PegBandManaged_NoUnion l.lvaw_garriga l.Taxes_PerGDP l.BestCRtg l.cyrs l.dyrs l.v2x_polyarchy l.Left i.country_num c.year##c.GlobalReserveLevels, robust

{txt}Linear regression                               Number of obs     = {res}       640
                                                {txt}{help j_robustsingular:F(69, 568) }       =  {res}        .
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.1331
                                                {txt}Root MSE          =    {res} 1.0712

{txt}{hline 37}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 38}{c |}{col 50}    Robust
{col 1}               deltaReserves_Imports{col 38}{c |}      Coef.{col 50}   Std. Err.{col 62}      t{col 70}   P>|t|{col 78}     [95% Con{col 91}f. Interval]
{hline 37}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 20}1.ElectionPeriod {c |}{col 38}{res}{space 2} .3947645{col 50}{space 2} .2529246{col 61}{space 1}    1.56{col 70}{space 3}0.119{col 78}{space 4}-.1020172{col 91}{space 3} .8915461
{txt}{space 17}US10YrYields_AnnAvg {c |}{col 38}{res}{space 2}-.2497877{col 50}{space 2} .0995069{col 61}{space 1}   -2.51{col 70}{space 3}0.012{col 78}{space 4}-.4452341{col 91}{space 3}-.0543412
{txt}{space 36} {c |}
ElectionPeriod#c.US10YrYields_AnnAvg {c |}
{space 34}1  {c |}{col 38}{res}{space 2}-.1936411{col 50}{space 2} .0785842{col 61}{space 1}   -2.46{col 70}{space 3}0.014{col 78}{space 4}-.3479923{col 91}{space 3}  -.03929
{txt}{space 36} {c |}
{space 24}ElectionYear {c |}{col 38}{res}{space 2} .1977718{col 50}{space 2} .1320688{col 61}{space 1}    1.50{col 70}{space 3}0.135{col 78}{space 4} -.061631{col 91}{space 3} .4571745
{txt}{space 36} {c |}
{space 15}deltaReserves_Imports {c |}
{space 33}L1. {c |}{col 38}{res}{space 2}-.1914184{col 50}{space 2} .0566042{col 61}{space 1}   -3.38{col 70}{space 3}0.001{col 78}{space 4}-.3025974{col 91}{space 3}-.0802394
{txt}{space 36} {c |}
{space 29}GDPpcap {c |}
{space 33}L1. {c |}{col 38}{res}{space 2} .0000786{col 50}{space 2}  .000062{col 61}{space 1}    1.27{col 70}{space 3}0.205{col 78}{space 4}-.0000431{col 91}{space 3} .0002003
{txt}{space 36} {c |}
{space 27}GDPgrowth {c |}
{space 33}L1. {c |}{col 38}{res}{space 2} .0006835{col 50}{space 2} .0190174{col 61}{space 1}    0.04{col 70}{space 3}0.971{col 78}{space 4}-.0366695{col 91}{space 3} .0380365
{txt}{space 36} {c |}
{space 19}ny_gdp_totl_rt_zs {c |}
{space 33}L1. {c |}{col 38}{res}{space 2} .0078162{col 50}{space 2} .0224503{col 61}{space 1}    0.35{col 70}{space 3}0.728{col 78}{space 4}-.0362796{col 91}{space 3}  .051912
{txt}{space 36} {c |}
{space 18}CurrAcctBal_PerGDP {c |}
{space 33}L1. {c |}{col 38}{res}{space 2} .0048256{col 50}{space 2} .0084717{col 61}{space 1}    0.57{col 70}{space 3}0.569{col 78}{space 4}-.0118141{col 91}{space 3} .0214652
{txt}{space 36} {c |}
{space 16}ExtDebtStocks_PerGNI {c |}
{space 33}L1. {c |}{col 38}{res}{space 2}-.0007961{col 50}{space 2} .0016495{col 61}{space 1}   -0.48{col 70}{space 3}0.630{col 78}{space 4} -.004036{col 91}{space 3} .0024438
{txt}{space 36} {c |}
{space 18}DebtService_PerGDP {c |}
{space 33}L1. {c |}{col 38}{res}{space 2} -.257977{col 50}{space 2} 1.387334{col 61}{space 1}   -0.19{col 70}{space 3}0.853{col 78}{space 4}-2.982908{col 91}{space 3} 2.466954
{txt}{space 36} {c |}
{space 12}Inflation_annGDPdeflator {c |}
{space 33}L1. {c |}{col 38}{res}{space 2} .0097892{col 50}{space 2} .0079071{col 61}{space 1}    1.24{col 70}{space 3}0.216{col 78}{space 4}-.0057414{col 91}{space 3} .0253199
{txt}{space 36} {c |}
{space 14}PegBandManaged_NoUnion {c |}
{space 33}L1. {c |}{col 38}{res}{space 2} .1505006{col 50}{space 2} .1807866{col 61}{space 1}    0.83{col 70}{space 3}0.405{col 78}{space 4}-.2045913{col 91}{space 3} .5055925
{txt}{space 36} {c |}
{space 24}lvaw_garriga {c |}
{space 33}L1. {c |}{col 38}{res}{space 2}-.3979937{col 50}{space 2} .6568008{col 61}{space 1}   -0.61{col 70}{space 3}0.545{col 78}{space 4}-1.688049{col 91}{space 3} .8920611
{txt}{space 36} {c |}
{space 24}Taxes_PerGDP {c |}
{space 33}L1. {c |}{col 38}{res}{space 2}  3.98503{col 50}{space 2}  2.48934{col 61}{space 1}    1.60{col 70}{space 3}0.110{col 78}{space 4}-.9044058{col 91}{space 3} 8.874467
{txt}{space 36} {c |}
{space 28}BestCRtg {c |}
{space 33}L1. {c |}{col 38}{res}{space 2} .0639141{col 50}{space 2} .0327735{col 61}{space 1}    1.95{col 70}{space 3}0.052{col 78}{space 4}-.0004579{col 91}{space 3} .1282861
{txt}{space 36} {c |}
{space 32}cyrs {c |}
{space 33}L1. {c |}{col 38}{res}{space 2} .0227288{col 50}{space 2} .0151568{col 61}{space 1}    1.50{col 70}{space 3}0.134{col 78}{space 4}-.0070415{col 91}{space 3} .0524991
{txt}{space 36} {c |}
{space 32}dyrs {c |}
{space 33}L1. {c |}{col 38}{res}{space 2}-.0172258{col 50}{space 2} .0122635{col 61}{space 1}   -1.40{col 70}{space 3}0.161{col 78}{space 4}-.0413132{col 91}{space 3} .0068616
{txt}{space 36} {c |}
{space 23}v2x_polyarchy {c |}
{space 33}L1. {c |}{col 38}{res}{space 2}  .374467{col 50}{space 2}  1.01503{col 61}{space 1}    0.37{col 70}{space 3}0.712{col 78}{space 4}-1.619203{col 91}{space 3} 2.368137
{txt}{space 36} {c |}
{space 29}LeftGov {c |}
{space 33}L1. {c |}{col 38}{res}{space 2}-.0691581{col 50}{space 2} .1268623{col 61}{space 1}   -0.55{col 70}{space 3}0.586{col 78}{space 4}-.3183346{col 91}{space 3} .1800185
{txt}{space 36} {c |}
{space 25}country_num {c |}
{space 32}ARG  {c |}{col 38}{res}{space 2}-.9550791{col 50}{space 2} .6904868{col 61}{space 1}   -1.38{col 70}{space 3}0.167{col 78}{space 4}-2.311298{col 91}{space 3}   .40114
{txt}{space 32}BGD  {c |}{col 38}{res}{space 2}-.1228397{col 50}{space 2} .5540358{col 61}{space 1}   -0.22{col 70}{space 3}0.825{col 78}{space 4}-1.211049{col 91}{space 3} .9653693
{txt}{space 32}BGR  {c |}{col 38}{res}{space 2} .1788577{col 50}{space 2} .4350101{col 61}{space 1}    0.41{col 70}{space 3}0.681{col 78}{space 4}-.6755671{col 91}{space 3} 1.033283
{txt}{space 32}BIH  {c |}{col 38}{res}{space 2} .1050728{col 50}{space 2} .3500272{col 61}{space 1}    0.30{col 70}{space 3}0.764{col 78}{space 4}-.5824328{col 91}{space 3} .7925784
{txt}{space 32}BRA  {c |}{col 38}{res}{space 2}-.1496302{col 50}{space 2} .8718623{col 61}{space 1}   -0.17{col 70}{space 3}0.864{col 78}{space 4}-1.862098{col 91}{space 3} 1.562837
{txt}{space 32}BWA  {c |}{col 38}{res}{space 2}-.5963746{col 50}{space 2} .7960512{col 61}{space 1}   -0.75{col 70}{space 3}0.454{col 78}{space 4}-2.159938{col 91}{space 3} .9671889
{txt}{space 32}DOM  {c |}{col 38}{res}{space 2} .1771279{col 50}{space 2} .3578113{col 61}{space 1}    0.50{col 70}{space 3}0.621{col 78}{space 4}-.5256668{col 91}{space 3} .8799227
{txt}{space 32}ECU  {c |}{col 38}{res}{space 2}-.1627944{col 50}{space 2} .4233525{col 61}{space 1}   -0.38{col 70}{space 3}0.701{col 78}{space 4}-.9943218{col 91}{space 3}  .668733
{txt}{space 32}GEO  {c |}{col 38}{res}{space 2}  .146961{col 50}{space 2} .3267775{col 61}{space 1}    0.45{col 70}{space 3}0.653{col 78}{space 4}-.4948788{col 91}{space 3} .7888008
{txt}{space 32}GHA  {c |}{col 38}{res}{space 2} .2460152{col 50}{space 2} .5752803{col 61}{space 1}    0.43{col 70}{space 3}0.669{col 78}{space 4}-.8839212{col 91}{space 3} 1.375952
{txt}{space 32}GMB  {c |}{col 38}{res}{space 2} 1.732591{col 50}{space 2} .4164047{col 61}{space 1}    4.16{col 70}{space 3}0.000{col 78}{space 4} .9147102{col 91}{space 3} 2.550472
{txt}{space 32}GTM  {c |}{col 38}{res}{space 2} .7001222{col 50}{space 2} .3474078{col 61}{space 1}    2.02{col 70}{space 3}0.044{col 78}{space 4} .0177615{col 91}{space 3} 1.382483
{txt}{space 32}HND  {c |}{col 38}{res}{space 2}-.4284288{col 50}{space 2}  .317991{col 61}{space 1}   -1.35{col 70}{space 3}0.178{col 78}{space 4}-1.053011{col 91}{space 3} .1961529
{txt}{space 32}HTI  {c |}{col 38}{res}{space 2} .7399618{col 50}{space 2} .8697675{col 61}{space 1}    0.85{col 70}{space 3}0.395{col 78}{space 4}-.9683913{col 91}{space 3} 2.448315
{txt}{space 32}IDN  {c |}{col 38}{res}{space 2} .3837241{col 50}{space 2} .4661574{col 61}{space 1}    0.82{col 70}{space 3}0.411{col 78}{space 4}-.5318786{col 91}{space 3} 1.299327
{txt}{space 32}IND  {c |}{col 38}{res}{space 2} .2653002{col 50}{space 2} .7653246{col 61}{space 1}    0.35{col 70}{space 3}0.729{col 78}{space 4}-1.237911{col 91}{space 3} 1.768512
{txt}{space 32}JAM  {c |}{col 38}{res}{space 2}-.4698099{col 50}{space 2} .4950152{col 61}{space 1}   -0.95{col 70}{space 3}0.343{col 78}{space 4}-1.442094{col 91}{space 3} .5024738
{txt}{space 32}KEN  {c |}{col 38}{res}{space 2} .3413627{col 50}{space 2} .3664043{col 61}{space 1}    0.93{col 70}{space 3}0.352{col 78}{space 4}  -.37831{col 91}{space 3} 1.061035
{txt}{space 32}KGZ  {c |}{col 38}{res}{space 2} .0858933{col 50}{space 2}  .386217{col 61}{space 1}    0.22{col 70}{space 3}0.824{col 78}{space 4}-.6726945{col 91}{space 3} .8444811
{txt}{space 32}LBN  {c |}{col 38}{res}{space 2} .6893939{col 50}{space 2} .6316762{col 61}{space 1}    1.09{col 70}{space 3}0.276{col 78}{space 4}-.5513125{col 91}{space 3}   1.9301
{txt}{space 32}LBR  {c |}{col 38}{res}{space 2} .3666638{col 50}{space 2} .6308194{col 61}{space 1}    0.58{col 70}{space 3}0.561{col 78}{space 4}-.8723598{col 91}{space 3} 1.605687
{txt}{space 32}LKA  {c |}{col 38}{res}{space 2} -.092322{col 50}{space 2} .4173168{col 61}{space 1}   -0.22{col 70}{space 3}0.825{col 78}{space 4}-.9119945{col 91}{space 3} .7273506
{txt}{space 32}LSO  {c |}{col 38}{res}{space 2}-.5534895{col 50}{space 2} .7979367{col 61}{space 1}   -0.69{col 70}{space 3}0.488{col 78}{space 4}-2.120756{col 91}{space 3} 1.013777
{txt}{space 32}MDA  {c |}{col 38}{res}{space 2} .0532709{col 50}{space 2} .2704971{col 61}{space 1}    0.20{col 70}{space 3}0.844{col 78}{space 4}-.4780259{col 91}{space 3} .5845676
{txt}{space 32}MDG  {c |}{col 38}{res}{space 2} .2271348{col 50}{space 2} .4574054{col 61}{space 1}    0.50{col 70}{space 3}0.620{col 78}{space 4}-.6712776{col 91}{space 3} 1.125547
{txt}{space 32}MNG  {c |}{col 38}{res}{space 2}-.2433263{col 50}{space 2} .5267279{col 61}{space 1}   -0.46{col 70}{space 3}0.644{col 78}{space 4}-1.277899{col 91}{space 3} .7912459
{txt}{space 32}MOZ  {c |}{col 38}{res}{space 2} .0720442{col 50}{space 2} .6479615{col 61}{space 1}    0.11{col 70}{space 3}0.912{col 78}{space 4}-1.200649{col 91}{space 3} 1.344737
{txt}{space 32}MRT  {c |}{col 38}{res}{space 2} .5555094{col 50}{space 2} .4281125{col 61}{space 1}    1.30{col 70}{space 3}0.195{col 78}{space 4}-.2853674{col 91}{space 3} 1.396386
{txt}{space 32}MUS  {c |}{col 38}{res}{space 2}-.2293644{col 50}{space 2} .5929298{col 61}{space 1}   -0.39{col 70}{space 3}0.699{col 78}{space 4}-1.393967{col 91}{space 3} .9352382
{txt}{space 32}MWI  {c |}{col 38}{res}{space 2} .0520632{col 50}{space 2} .4828899{col 61}{space 1}    0.11{col 70}{space 3}0.914{col 78}{space 4}-.8964046{col 91}{space 3} 1.000531
{txt}{space 32}NIC  {c |}{col 38}{res}{space 2} .4315852{col 50}{space 2} .3610943{col 61}{space 1}    1.20{col 70}{space 3}0.233{col 78}{space 4}-.2776578{col 91}{space 3} 1.140828
{txt}{space 32}NPL  {c |}{col 38}{res}{space 2}-.9135083{col 50}{space 2}  .649978{col 61}{space 1}   -1.41{col 70}{space 3}0.160{col 78}{space 4}-2.190162{col 91}{space 3} .3631455
{txt}{space 32}PAK  {c |}{col 38}{res}{space 2}-.4893565{col 50}{space 2} .6951674{col 61}{space 1}   -0.70{col 70}{space 3}0.482{col 78}{space 4}-1.854769{col 91}{space 3} .8760562
{txt}{space 32}PAN  {c |}{col 38}{res}{space 2}-.9635573{col 50}{space 2} .8376116{col 61}{space 1}   -1.15{col 70}{space 3}0.250{col 78}{space 4}-2.608751{col 91}{space 3} .6816369
{txt}{space 32}PER  {c |}{col 38}{res}{space 2} .1216871{col 50}{space 2} .5465173{col 61}{space 1}    0.22{col 70}{space 3}0.824{col 78}{space 4}-.9517545{col 91}{space 3} 1.195129
{txt}{space 32}PHL  {c |}{col 38}{res}{space 2} .5505452{col 50}{space 2} .4445101{col 61}{space 1}    1.24{col 70}{space 3}0.216{col 78}{space 4} -.322539{col 91}{space 3} 1.423629
{txt}{space 32}PNG  {c |}{col 38}{res}{space 2} .0263696{col 50}{space 2} .5850542{col 61}{space 1}    0.05{col 70}{space 3}0.964{col 78}{space 4}-1.122764{col 91}{space 3} 1.175503
{txt}{space 32}PRY  {c |}{col 38}{res}{space 2} .4551051{col 50}{space 2} .4508786{col 61}{space 1}    1.01{col 70}{space 3}0.313{col 78}{space 4}-.4304877{col 91}{space 3} 1.340698
{txt}{space 32}ROU  {c |}{col 38}{res}{space 2}-.0488394{col 50}{space 2}  .464913{col 61}{space 1}   -0.11{col 70}{space 3}0.916{col 78}{space 4}-.9619979{col 91}{space 3}  .864319
{txt}{space 32}SLE  {c |}{col 38}{res}{space 2} .3589383{col 50}{space 2} .5042501{col 61}{space 1}    0.71{col 70}{space 3}0.477{col 78}{space 4}-.6314842{col 91}{space 3} 1.349361
{txt}{space 32}SLV  {c |}{col 38}{res}{space 2} .1816947{col 50}{space 2} .3056195{col 61}{space 1}    0.59{col 70}{space 3}0.552{col 78}{space 4}-.4185876{col 91}{space 3} .7819769
{txt}{space 32}THA  {c |}{col 38}{res}{space 2}-.3394945{col 50}{space 2} .6198335{col 61}{space 1}   -0.55{col 70}{space 3}0.584{col 78}{space 4} -1.55694{col 91}{space 3} .8779511
{txt}{space 32}TLS  {c |}{col 38}{res}{space 2} 2.680996{col 50}{space 2} 1.360545{col 61}{space 1}    1.97{col 70}{space 3}0.049{col 78}{space 4} .0086817{col 91}{space 3}  5.35331
{txt}{space 32}TUN  {c |}{col 38}{res}{space 2}-.6661233{col 50}{space 2} .7172493{col 61}{space 1}   -0.93{col 70}{space 3}0.353{col 78}{space 4}-2.074908{col 91}{space 3} .7426613
{txt}{space 32}TZA  {c |}{col 38}{res}{space 2} .0071026{col 50}{space 2} .5196673{col 61}{space 1}    0.01{col 70}{space 3}0.989{col 78}{space 4}-1.013601{col 91}{space 3} 1.027807
{txt}{space 32}UKR  {c |}{col 38}{res}{space 2}-.3076741{col 50}{space 2} .4980311{col 61}{space 1}   -0.62{col 70}{space 3}0.537{col 78}{space 4}-1.285881{col 91}{space 3} .6705333
{txt}{space 32}ZAF  {c |}{col 38}{res}{space 2}-.0170836{col 50}{space 2} .6424647{col 61}{space 1}   -0.03{col 70}{space 3}0.979{col 78}{space 4} -1.27898{col 91}{space 3} 1.244813
{txt}{space 32}ZMB  {c |}{col 38}{res}{space 2} .0395765{col 50}{space 2} .5988806{col 61}{space 1}    0.07{col 70}{space 3}0.947{col 78}{space 4}-1.136714{col 91}{space 3} 1.215867
{txt}{space 36} {c |}
{space 32}year {c |}{col 38}{res}{space 2} .2390437{col 50}{space 2}  .076931{col 61}{space 1}    3.11{col 70}{space 3}0.002{col 78}{space 4} .0879396{col 91}{space 3} .3901477
{txt}{space 17}GlobalReserveLevels {c |}{col 38}{res}{space 2} 3.69e-11{col 50}{space 2} 1.18e-11{col 61}{space 1}    3.12{col 70}{space 3}0.002{col 78}{space 4} 1.36e-11{col 91}{space 3} 6.01e-11
{txt}{space 36} {c |}
{space 8}c.year#c.GlobalReserveLevels {c |}{col 38}{res}{space 2}-1.85e-14{col 50}{space 2} 5.91e-15{col 61}{space 1}   -3.13{col 70}{space 3}0.002{col 78}{space 4}-3.01e-14{col 91}{space 3}-6.89e-15
{txt}{space 36} {c |}
{space 31}_cons {c |}{col 38}{res}{space 2}-478.8473{col 50}{space 2} 153.9747{col 61}{space 1}   -3.11{col 70}{space 3}0.002{col 78}{space 4}-781.2767{col 91}{space 3} -176.418
{txt}{hline 37}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. sum  deltaReserves_Imports ElectionPeriod US10YrYields_AnnAvg  ElectionYear deltaReserves_Imports GDPpcap GDPgrowth ny_gdp_totl_rt_zs CurrAcctBal_PerGDP ExtDebtStocks_PerGNI DebtService_PerGDP Inflation_annGDPdeflator PegBandManaged_NoUnion lvaw_garriga Taxes_PerGDP BestCRtg cyrs dyrs v2x_polyarchy Left if e(sample)

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
deltaReser~s {c |}{res}        640    .0751906    1.084684  -5.081652   4.658867
{txt}ElectionPe~d {c |}{res}        640    .4265625    .4949644          0          1
{txt}US10YrYiel~g {c |}{res}        640    3.146696    .9918735    1.80344      4.795
{txt}ElectionYear {c |}{res}        640    .2078125    .4060592          0          1
{txt}deltaReser~s {c |}{res}        640    .0751906    1.084684  -5.081652   4.658867
{txt}{hline 13}{c +}{hline 57}
{space 5}GDPpcap {c |}{res}        640    4002.764    3132.031   388.4459   15166.88
{txt}{space 3}GDPgrowth {c |}{res}        640    4.249024    3.627952  -20.49107   21.07901
{txt}ny_gdp_tot~s {c |}{res}        640    5.143784      6.4346   .0010569   44.75309
{txt}CurrAcctBa~P {c |}{res}        640   -5.572285    8.871452  -65.25674   22.18725
{txt}ExtDebtSto~I {c |}{res}        640    57.78743    41.98505   3.895006   366.0334
{txt}{hline 13}{c +}{hline 57}
DebtServic~P {c |}{res}        640    .0235058    .0230111   .0010831   .1739425
{txt}Inflation_~r {c |}{res}        640    7.939055    8.920958  -6.682455   112.6936
{txt}PegBandMan~n {c |}{res}        640    .2671875    .4428372          0          1
{txt}lvaw_garriga {c |}{res}        603    .6016333    .1947785      .1345       .979
{txt}Taxes_PerGDP {c |}{res}        636     .167814    .0703144   .0540012   .6094643
{txt}{hline 13}{c +}{hline 57}
{space 4}BestCRtg {c |}{res}        640     13.7875    3.610778          6         20
{txt}{space 8}cyrs {c |}{res}        640    14.19688    11.27624          0         59
{txt}{space 8}dyrs {c |}{res}        640    4.053125    5.678143          0         57
{txt}v2x_polyar~y {c |}{res}        640    .6126922     .116023       .422       .878
{txt}{space 5}LeftGov {c |}{res}        640    .3359375    .4726866          0          1
{txt}
{com}. 
. 
. 
. ***************************************************************************************************************************************************************************
. *Section C: Alt Democracy Datasets and Thresholds
. 
. 
. *Re-set to expand from .42 polyarchy scope
. use "data1_final.dta", clear
{txt}
{com}. *Data prep
. tsset country_num year
{res}{txt}{col 8}panel variable:  {res}country_num (unbalanced)
{txt}{col 9}time variable:  {res}{col 25}year, 2000 to 2023
{txt}{col 17}delta:  {res}1 unit
{txt}
{com}. 
. *Subset to developing
. keep if oecd_1yes == 0
{txt}(868 observations deleted)

{com}. 
. * Generate pre-election share
. replace  monthDPI= . if ElectionPeriod==0 
{txt}(240 real changes made, 240 to missing)

{com}. 
. gen preelec_share = 0 if year <=2020
{txt}(478 missing values generated)

{com}. replace preelec_share = monthDPI/12 if monthDPI != . 
{txt}(410 real changes made)

{com}. by iso, sort: replace preelec_share = (12-monthDPI[_n+1])/12 if monthDPI[_n+1] != .
{txt}(355 real changes made)

{com}. 
. tsset country_num year
{res}{txt}{col 8}panel variable:  {res}country_num (unbalanced)
{txt}{col 9}time variable:  {res}{col 25}year, 2000 to 2023
{txt}{col 17}delta:  {res}1 unit
{txt}
{com}. 
. 
. * Generate post-election share (monthly) 
. gen postelec_share = 0 if year <=2020
{txt}(478 missing values generated)

{com}. replace postelec_share = (12-monthDPI)/12 if monthDPI != .
{txt}(371 real changes made)

{com}. 
. * Generate post-election share (annual) 
. 
. gen post_Election =0 if year <=2020
{txt}(478 missing values generated)

{com}. replace post_Election =1 if year <=2020 & ElectionLastYear==1
{txt}(410 real changes made)

{com}. 
. 
. 
. lab var US10YrYields_AnnAvg "USrates"
{txt}
{com}. lab var CurrAcctBal_PerGDP  "CurrAcct"
{txt}
{com}. lab var lvaw_garriga "CBI"
{txt}
{com}. lab var Taxes_PerGDP "TaxRevenue"
{txt}
{com}. lab var ny_gdp_totl_rt_zs "NatRents"
{txt}
{com}. lab var cyrs "CCrisisYrs"
{txt}
{com}. lab var dyrs "DCrisisYrs"
{txt}
{com}. lab var BestCRtg "CreditRating"
{txt}
{com}. lab var v2x_polyarchy "Democracy"
{txt}
{com}. lab var DebtService_PerGDP "DebtService"
{txt}
{com}. lab var Inflation_annGDPdeflator "Inflation"
{txt}
{com}. lab var ExtDebtStocks_PerGNI "ExtDebt"
{txt}
{com}. lab var PegBandManaged_NoUnion "PegBand"
{txt}
{com}. lab var deltaReserves_Imports "Reserves"
{txt}
{com}. lab var year "Year"
{txt}
{com}. lab var post_Election "Post-Election"
{txt}
{com}. 
. 
. 
. *Lower Vdem
. gen sample2 = 1 if v2x_polyarchy > .33 
{txt}(1,187 missing values generated)

{com}. *Polit
. *Boix et al binary
. gen sample3 = 1 if democracy==1 
{txt}(2,032 missing values generated)

{com}. *Vdem regimes with elections (excluding autocracies)
. gen sample4 = 1 if v2x_regime==2 | v2x_regime==3
{txt}(1,968 missing values generated)

{com}. 
. 
. regress deltaReserves_Imports c.ElectionPeriod##c.US10YrYields_AnnAvg ElectionYear  l.(deltaReserves_Imports GDPpcap GDPgrowth ny_gdp_totl_rt_zs CurrAcctBal_PerGDP ExtDebtStocks_PerGNI DebtService_PerGDP Inflation_annGDPdeflator PegBandManaged_NoUnion lvaw_garriga Taxes_PerGDP BestCRtg cyrs dyrs v2x_polyarchy Left) i.country_num c.year##c.GlobalReserveLevels if sample2==1, robust

{txt}Linear regression                               Number of obs     = {res}       855
                                                {txt}{help j_robustsingular:F(80, 772) }       =  {res}        .
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.1037
                                                {txt}Root MSE          =    {res} 1.0734

{txt}{hline 39}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 40}{c |}{col 52}    Robust
{col 1}                 deltaReserves_Imports{col 40}{c |}      Coef.{col 52}   Std. Err.{col 64}      t{col 72}   P>|t|{col 80}     [95% Con{col 93}f. Interval]
{hline 39}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 24}ElectionPeriod {c |}{col 40}{res}{space 2} .2305294{col 52}{space 2} .2131885{col 63}{space 1}    1.08{col 72}{space 3}0.280{col 80}{space 4}-.1879686{col 93}{space 3} .6490274
{txt}{space 19}US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.1789795{col 52}{space 2} .0843341{col 63}{space 1}   -2.12{col 72}{space 3}0.034{col 80}{space 4}-.3445308{col 93}{space 3}-.0134281
{txt}{space 38} {c |}
c.ElectionPeriod#c.US10YrYields_AnnAvg {c |}{col 40}{res}{space 2} -.136146{col 52}{space 2} .0650181{col 63}{space 1}   -2.09{col 72}{space 3}0.037{col 80}{space 4}-.2637792{col 93}{space 3}-.0085129
{txt}{space 38} {c |}
{space 26}ElectionYear {c |}{col 40}{res}{space 2} .1418359{col 52}{space 2} .1136727{col 63}{space 1}    1.25{col 72}{space 3}0.212{col 80}{space 4}-.0813084{col 93}{space 3} .3649802
{txt}{space 38} {c |}
{space 17}deltaReserves_Imports {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.1611917{col 52}{space 2} .0486002{col 63}{space 1}   -3.32{col 72}{space 3}0.001{col 80}{space 4}-.2565959{col 93}{space 3}-.0657875
{txt}{space 38} {c |}
{space 31}GDPpcap {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0000744{col 52}{space 2} .0000549{col 63}{space 1}    1.36{col 72}{space 3}0.175{col 80}{space 4}-.0000333{col 93}{space 3} .0001821
{txt}{space 38} {c |}
{space 29}GDPgrowth {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0009536{col 52}{space 2} .0135556{col 63}{space 1}   -0.07{col 72}{space 3}0.944{col 80}{space 4}-.0275638{col 93}{space 3} .0256566
{txt}{space 38} {c |}
{space 21}ny_gdp_totl_rt_zs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0003074{col 52}{space 2} .0186716{col 63}{space 1}   -0.02{col 72}{space 3}0.987{col 80}{space 4}-.0369605{col 93}{space 3} .0363458
{txt}{space 38} {c |}
{space 20}CurrAcctBal_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0051777{col 52}{space 2} .0074426{col 63}{space 1}   -0.70{col 72}{space 3}0.487{col 80}{space 4}-.0197878{col 93}{space 3} .0094324
{txt}{space 38} {c |}
{space 18}ExtDebtStocks_PerGNI {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0008484{col 52}{space 2} .0009591{col 63}{space 1}   -0.88{col 72}{space 3}0.377{col 80}{space 4}-.0027312{col 93}{space 3} .0010343
{txt}{space 38} {c |}
{space 20}DebtService_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.9630034{col 52}{space 2} 1.103592{col 63}{space 1}   -0.87{col 72}{space 3}0.383{col 80}{space 4}  -3.1294{col 93}{space 3} 1.203393
{txt}{space 38} {c |}
{space 14}Inflation_annGDPdeflator {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}  .006148{col 52}{space 2} .0051355{col 63}{space 1}    1.20{col 72}{space 3}0.232{col 80}{space 4}-.0039331{col 93}{space 3} .0162291
{txt}{space 38} {c |}
{space 16}PegBandManaged_NoUnion {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .1405533{col 52}{space 2} .1410188{col 63}{space 1}    1.00{col 72}{space 3}0.319{col 80}{space 4}-.1362724{col 93}{space 3}  .417379
{txt}{space 38} {c |}
{space 26}lvaw_garriga {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} -.091656{col 52}{space 2} .7193188{col 63}{space 1}   -0.13{col 72}{space 3}0.899{col 80}{space 4}-1.503709{col 93}{space 3} 1.320397
{txt}{space 38} {c |}
{space 26}Taxes_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} 3.888496{col 52}{space 2} 2.178749{col 63}{space 1}    1.78{col 72}{space 3}0.075{col 80}{space 4}-.3884802{col 93}{space 3} 8.165471
{txt}{space 38} {c |}
{space 30}BestCRtg {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0690275{col 52}{space 2} .0250349{col 63}{space 1}    2.76{col 72}{space 3}0.006{col 80}{space 4}  .019883{col 93}{space 3}  .118172
{txt}{space 38} {c |}
{space 34}cyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0200671{col 52}{space 2} .0103841{col 63}{space 1}    1.93{col 72}{space 3}0.054{col 80}{space 4}-.0003173{col 93}{space 3} .0404515
{txt}{space 38} {c |}
{space 34}dyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0211827{col 52}{space 2} .0106909{col 63}{space 1}   -1.98{col 72}{space 3}0.048{col 80}{space 4}-.0421695{col 93}{space 3} -.000196
{txt}{space 38} {c |}
{space 25}v2x_polyarchy {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.8021425{col 52}{space 2}  .572078{col 63}{space 1}   -1.40{col 72}{space 3}0.161{col 80}{space 4}-1.925155{col 93}{space 3} .3208704
{txt}{space 38} {c |}
{space 31}LeftGov {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0108668{col 52}{space 2} .1147239{col 63}{space 1}   -0.09{col 72}{space 3}0.925{col 80}{space 4}-.2360747{col 93}{space 3}  .214341
{txt}{space 38} {c |}
{space 27}country_num {c |}
{space 34}ALB  {c |}{col 40}{res}{space 2} .2553805{col 52}{space 2} .6700338{col 63}{space 1}    0.38{col 72}{space 3}0.703{col 80}{space 4}-1.059924{col 93}{space 3} 1.570685
{txt}{space 34}ARG  {c |}{col 40}{res}{space 2}-.3039376{col 52}{space 2} 1.039601{col 63}{space 1}   -0.29{col 72}{space 3}0.770{col 80}{space 4}-2.344718{col 93}{space 3} 1.736843
{txt}{space 34}ARM  {c |}{col 40}{res}{space 2}   .17004{col 52}{space 2} .6277265{col 63}{space 1}    0.27{col 72}{space 3}0.787{col 80}{space 4}-1.062213{col 93}{space 3} 1.402293
{txt}{space 34}BDI  {c |}{col 40}{res}{space 2} 1.184001{col 52}{space 2} .8870395{col 63}{space 1}    1.33{col 72}{space 3}0.182{col 80}{space 4}-.5572949{col 93}{space 3} 2.925296
{txt}{space 34}BGD  {c |}{col 40}{res}{space 2} .5419659{col 52}{space 2} .6748286{col 63}{space 1}    0.80{col 72}{space 3}0.422{col 80}{space 4}-.7827509{col 93}{space 3} 1.866683
{txt}{space 34}BGR  {c |}{col 40}{res}{space 2} .6779881{col 52}{space 2} .8000927{col 63}{space 1}    0.85{col 72}{space 3}0.397{col 80}{space 4}-.8926272{col 93}{space 3} 2.248603
{txt}{space 34}BIH  {c |}{col 40}{res}{space 2} .4386179{col 52}{space 2} .7073488{col 63}{space 1}    0.62{col 72}{space 3}0.535{col 80}{space 4}-.9499372{col 93}{space 3} 1.827173
{txt}{space 34}BRA  {c |}{col 40}{res}{space 2} .7222472{col 52}{space 2} 1.156961{col 63}{space 1}    0.62{col 72}{space 3}0.533{col 80}{space 4}-1.548914{col 93}{space 3} 2.993409
{txt}{space 34}BWA  {c |}{col 40}{res}{space 2}  .020446{col 52}{space 2}  1.05958{col 63}{space 1}    0.02{col 72}{space 3}0.985{col 80}{space 4}-2.059553{col 93}{space 3} 2.100445
{txt}{space 34}CMR  {c |}{col 40}{res}{space 2}-.1379657{col 52}{space 2} .6375445{col 63}{space 1}   -0.22{col 72}{space 3}0.829{col 80}{space 4}-1.389492{col 93}{space 3} 1.113561
{txt}{space 34}COD  {c |}{col 40}{res}{space 2}  .888817{col 52}{space 2} .8410516{col 63}{space 1}    1.06{col 72}{space 3}0.291{col 80}{space 4}-.7622022{col 93}{space 3} 2.539836
{txt}{space 34}DOM  {c |}{col 40}{res}{space 2} .7055551{col 52}{space 2}  .756502{col 63}{space 1}    0.93{col 72}{space 3}0.351{col 80}{space 4}-.7794898{col 93}{space 3}   2.1906
{txt}{space 34}ECU  {c |}{col 40}{res}{space 2} .4273192{col 52}{space 2} .7708327{col 63}{space 1}    0.55{col 72}{space 3}0.579{col 80}{space 4}-1.085857{col 93}{space 3} 1.940496
{txt}{space 34}ETH  {c |}{col 40}{res}{space 2} .2516349{col 52}{space 2} .6349163{col 63}{space 1}    0.40{col 72}{space 3}0.692{col 80}{space 4}-.9947322{col 93}{space 3} 1.498002
{txt}{space 34}GEO  {c |}{col 40}{res}{space 2}  .412956{col 52}{space 2} .6726662{col 63}{space 1}    0.61{col 72}{space 3}0.539{col 80}{space 4}-.9075158{col 93}{space 3} 1.733428
{txt}{space 34}GHA  {c |}{col 40}{res}{space 2} .9577667{col 52}{space 2} .7837356{col 63}{space 1}    1.22{col 72}{space 3}0.222{col 80}{space 4} -.580739{col 93}{space 3} 2.496272
{txt}{space 34}GIN  {c |}{col 40}{res}{space 2} .5273356{col 52}{space 2} .7635218{col 63}{space 1}    0.69{col 72}{space 3}0.490{col 80}{space 4}-.9714894{col 93}{space 3} 2.026161
{txt}{space 34}GMB  {c |}{col 40}{res}{space 2} 1.297122{col 52}{space 2} .6929698{col 63}{space 1}    1.87{col 72}{space 3}0.062{col 80}{space 4}-.0632063{col 93}{space 3} 2.657451
{txt}{space 34}GTM  {c |}{col 40}{res}{space 2}  1.16981{col 52}{space 2} .6483452{col 63}{space 1}    1.80{col 72}{space 3}0.072{col 80}{space 4}-.1029187{col 93}{space 3} 2.442538
{txt}{space 34}HND  {c |}{col 40}{res}{space 2} .2516686{col 52}{space 2} .6019238{col 63}{space 1}    0.42{col 72}{space 3}0.676{col 80}{space 4}-.9299328{col 93}{space 3}  1.43327
{txt}{space 34}HTI  {c |}{col 40}{res}{space 2} .6179344{col 52}{space 2} .7202711{col 63}{space 1}    0.86{col 72}{space 3}0.391{col 80}{space 4}-.7959877{col 93}{space 3} 2.031857
{txt}{space 34}IDN  {c |}{col 40}{res}{space 2} .9762002{col 52}{space 2} .7331428{col 63}{space 1}    1.33{col 72}{space 3}0.183{col 80}{space 4}-.4629897{col 93}{space 3}  2.41539
{txt}{space 34}IND  {c |}{col 40}{res}{space 2} 1.172109{col 52}{space 2} .9095831{col 63}{space 1}    1.29{col 72}{space 3}0.198{col 80}{space 4}-.6134401{col 93}{space 3} 2.957659
{txt}{space 34}JAM  {c |}{col 40}{res}{space 2} .4132048{col 52}{space 2} .8322314{col 63}{space 1}    0.50{col 72}{space 3}0.620{col 80}{space 4}  -1.2205{col 93}{space 3}  2.04691
{txt}{space 34}KEN  {c |}{col 40}{res}{space 2} .5869659{col 52}{space 2} .6395097{col 63}{space 1}    0.92{col 72}{space 3}0.359{col 80}{space 4}-.6684182{col 93}{space 3}  1.84235
{txt}{space 34}KGZ  {c |}{col 40}{res}{space 2} .0542294{col 52}{space 2}  .643387{col 63}{space 1}    0.08{col 72}{space 3}0.933{col 80}{space 4}-1.208766{col 93}{space 3} 1.317225
{txt}{space 34}LBN  {c |}{col 40}{res}{space 2} .8627429{col 52}{space 2} .8637731{col 63}{space 1}    1.00{col 72}{space 3}0.318{col 80}{space 4}-.8328797{col 93}{space 3} 2.558365
{txt}{space 34}LBR  {c |}{col 40}{res}{space 2} .8461701{col 52}{space 2} .7617579{col 63}{space 1}    1.11{col 72}{space 3}0.267{col 80}{space 4}-.6491924{col 93}{space 3} 2.341533
{txt}{space 34}LKA  {c |}{col 40}{res}{space 2} .2306048{col 52}{space 2} .5968402{col 63}{space 1}    0.39{col 72}{space 3}0.699{col 80}{space 4}-.9410173{col 93}{space 3} 1.402227
{txt}{space 34}LSO  {c |}{col 40}{res}{space 2}-.1440339{col 52}{space 2} .9782191{col 63}{space 1}   -0.15{col 72}{space 3}0.883{col 80}{space 4}-2.064319{col 93}{space 3} 1.776251
{txt}{space 34}MDA  {c |}{col 40}{res}{space 2} .3437694{col 52}{space 2} .6691005{col 63}{space 1}    0.51{col 72}{space 3}0.608{col 80}{space 4}-.9697027{col 93}{space 3} 1.657241
{txt}{space 34}MDG  {c |}{col 40}{res}{space 2} .6482506{col 52}{space 2} .6449679{col 63}{space 1}    1.01{col 72}{space 3}0.315{col 80}{space 4}-.6178483{col 93}{space 3} 1.914349
{txt}{space 34}MMR  {c |}{col 40}{res}{space 2}-.0314799{col 52}{space 2} .8382467{col 63}{space 1}   -0.04{col 72}{space 3}0.970{col 80}{space 4}-1.676993{col 93}{space 3} 1.614033
{txt}{space 34}MNG  {c |}{col 40}{res}{space 2} .4747762{col 52}{space 2} .7936759{col 63}{space 1}    0.60{col 72}{space 3}0.550{col 80}{space 4}-1.083243{col 93}{space 3} 2.032795
{txt}{space 34}MOZ  {c |}{col 40}{res}{space 2} .5377943{col 52}{space 2} .8086999{col 63}{space 1}    0.67{col 72}{space 3}0.506{col 80}{space 4}-1.049717{col 93}{space 3} 2.125306
{txt}{space 34}MRT  {c |}{col 40}{res}{space 2} .4808958{col 52}{space 2} .6059743{col 63}{space 1}    0.79{col 72}{space 3}0.428{col 80}{space 4} -.708657{col 93}{space 3} 1.670449
{txt}{space 34}MUS  {c |}{col 40}{res}{space 2} .4000996{col 52}{space 2} .8455099{col 63}{space 1}    0.47{col 72}{space 3}0.636{col 80}{space 4}-1.259671{col 93}{space 3} 2.059871
{txt}{space 34}MWI  {c |}{col 40}{res}{space 2} .4248607{col 52}{space 2} .7283302{col 63}{space 1}    0.58{col 72}{space 3}0.560{col 80}{space 4}-1.004882{col 93}{space 3} 1.854603
{txt}{space 34}NIC  {c |}{col 40}{res}{space 2} .7107602{col 52}{space 2} .6067729{col 63}{space 1}    1.17{col 72}{space 3}0.242{col 80}{space 4}-.4803603{col 93}{space 3} 1.901881
{txt}{space 34}NPL  {c |}{col 40}{res}{space 2} .5074995{col 52}{space 2} .7602283{col 63}{space 1}    0.67{col 72}{space 3}0.505{col 80}{space 4}-.9848602{col 93}{space 3} 1.999859
{txt}{space 34}PAK  {c |}{col 40}{res}{space 2}-.1199484{col 52}{space 2} .6726555{col 63}{space 1}   -0.18{col 72}{space 3}0.859{col 80}{space 4}-1.440399{col 93}{space 3} 1.200502
{txt}{space 34}PAN  {c |}{col 40}{res}{space 2}-.0215326{col 52}{space 2} .8765956{col 63}{space 1}   -0.02{col 72}{space 3}0.980{col 80}{space 4}-1.742326{col 93}{space 3} 1.699261
{txt}{space 34}PER  {c |}{col 40}{res}{space 2} .9032358{col 52}{space 2} .7584317{col 63}{space 1}    1.19{col 72}{space 3}0.234{col 80}{space 4}-.5855972{col 93}{space 3} 2.392069
{txt}{space 34}PHL  {c |}{col 40}{res}{space 2} 1.017052{col 52}{space 2} .7438521{col 63}{space 1}    1.37{col 72}{space 3}0.172{col 80}{space 4}-.4431602{col 93}{space 3} 2.477265
{txt}{space 34}PNG  {c |}{col 40}{res}{space 2} .6895192{col 52}{space 2} .8118304{col 63}{space 1}    0.85{col 72}{space 3}0.396{col 80}{space 4}-.9041376{col 93}{space 3} 2.283176
{txt}{space 34}PRY  {c |}{col 40}{res}{space 2} .9478795{col 52}{space 2} .7666406{col 63}{space 1}    1.24{col 72}{space 3}0.217{col 80}{space 4} -.557068{col 93}{space 3} 2.452827
{txt}{space 34}ROU  {c |}{col 40}{res}{space 2} .4564066{col 52}{space 2} .8372403{col 63}{space 1}    0.55{col 72}{space 3}0.586{col 80}{space 4}-1.187131{col 93}{space 3} 2.099944
{txt}{space 34}RUS  {c |}{col 40}{res}{space 2} .9733848{col 52}{space 2}  1.03947{col 63}{space 1}    0.94{col 72}{space 3}0.349{col 80}{space 4}-1.067138{col 93}{space 3} 3.013907
{txt}{space 34}SLE  {c |}{col 40}{res}{space 2} .5837908{col 52}{space 2} .6525911{col 63}{space 1}    0.89{col 72}{space 3}0.371{col 80}{space 4}-.6972726{col 93}{space 3} 1.864854
{txt}{space 34}SLV  {c |}{col 40}{res}{space 2} .5918724{col 52}{space 2} .6486243{col 63}{space 1}    0.91{col 72}{space 3}0.362{col 80}{space 4}-.6814041{col 93}{space 3} 1.865149
{txt}{space 34}THA  {c |}{col 40}{res}{space 2} .5851163{col 52}{space 2} 1.079071{col 63}{space 1}    0.54{col 72}{space 3}0.588{col 80}{space 4}-1.533145{col 93}{space 3} 2.703378
{txt}{space 34}TLS  {c |}{col 40}{res}{space 2} 1.686274{col 52}{space 2} 1.888907{col 63}{space 1}    0.89{col 72}{space 3}0.372{col 80}{space 4}-2.021729{col 93}{space 3} 5.394276
{txt}{space 34}TUN  {c |}{col 40}{res}{space 2} .0796756{col 52}{space 2} .6217442{col 63}{space 1}    0.13{col 72}{space 3}0.898{col 80}{space 4}-1.140834{col 93}{space 3} 1.300185
{txt}{space 34}TZA  {c |}{col 40}{res}{space 2}  .451083{col 52}{space 2} .6485696{col 63}{space 1}    0.70{col 72}{space 3}0.487{col 80}{space 4}-.8220861{col 93}{space 3} 1.724252
{txt}{space 34}UGA  {c |}{col 40}{res}{space 2} .0878041{col 52}{space 2} .8437749{col 63}{space 1}    0.10{col 72}{space 3}0.917{col 80}{space 4}-1.568561{col 93}{space 3} 1.744169
{txt}{space 34}UKR  {c |}{col 40}{res}{space 2}  .424548{col 52}{space 2} .7673947{col 63}{space 1}    0.55{col 72}{space 3}0.580{col 80}{space 4} -1.08188{col 93}{space 3} 1.930976
{txt}{space 34}YEM  {c |}{col 40}{res}{space 2} .3498582{col 52}{space 2} .7955956{col 63}{space 1}    0.44{col 72}{space 3}0.660{col 80}{space 4}-1.211929{col 93}{space 3} 1.911645
{txt}{space 34}ZAF  {c |}{col 40}{res}{space 2} .7292374{col 52}{space 2} .9790029{col 63}{space 1}    0.74{col 72}{space 3}0.457{col 80}{space 4}-1.192586{col 93}{space 3} 2.651061
{txt}{space 34}ZMB  {c |}{col 40}{res}{space 2} .4064178{col 52}{space 2} .7872699{col 63}{space 1}    0.52{col 72}{space 3}0.606{col 80}{space 4}-1.139026{col 93}{space 3} 1.951861
{txt}{space 38} {c |}
{space 34}year {c |}{col 40}{res}{space 2}  .166256{col 52}{space 2} .0532389{col 63}{space 1}    3.12{col 72}{space 3}0.002{col 80}{space 4} .0617459{col 93}{space 3} .2707662
{txt}{space 19}GlobalReserveLevels {c |}{col 40}{res}{space 2} 2.35e-11{col 52}{space 2} 7.99e-12{col 63}{space 1}    2.94{col 72}{space 3}0.003{col 80}{space 4} 7.78e-12{col 93}{space 3} 3.91e-11
{txt}{space 38} {c |}
{space 10}c.year#c.GlobalReserveLevels {c |}{col 40}{res}{space 2}-1.18e-14{col 52}{space 2} 3.99e-15{col 63}{space 1}   -2.95{col 72}{space 3}0.003{col 80}{space 4}-1.96e-14{col 93}{space 3}-3.95e-15
{txt}{space 38} {c |}
{space 33}_cons {c |}{col 40}{res}{space 2} -333.388{col 52}{space 2} 106.6272{col 63}{space 1}   -3.13{col 72}{space 3}0.002{col 80}{space 4}-542.7016{col 93}{space 3}-124.0744
{txt}{hline 39}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store m2
{txt}
{com}. 
. regress deltaReserves_Imports c.ElectionPeriod##c.US10YrYields_AnnAvg ElectionYear  l.(deltaReserves_Imports GDPpcap GDPgrowth ny_gdp_totl_rt_zs CurrAcctBal_PerGDP ExtDebtStocks_PerGNI DebtService_PerGDP Inflation_annGDPdeflator PegBandManaged_NoUnion lvaw_garriga Taxes_PerGDP BestCRtg cyrs dyrs v2x_polyarchy Left) i.country_num c.year##c.GlobalReserveLevels if sample3==1, robust

{txt}Linear regression                               Number of obs     = {res}       689
                                                {txt}{help j_robustsingular:F(64, 622) }       =  {res}        .
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.1065
                                                {txt}Root MSE          =    {res} 1.0698

{txt}{hline 39}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 40}{c |}{col 52}    Robust
{col 1}                 deltaReserves_Imports{col 40}{c |}      Coef.{col 52}   Std. Err.{col 64}      t{col 72}   P>|t|{col 80}     [95% Con{col 93}f. Interval]
{hline 39}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 24}ElectionPeriod {c |}{col 40}{res}{space 2} .2623961{col 52}{space 2} .2335872{col 63}{space 1}    1.12{col 72}{space 3}0.262{col 80}{space 4}-.1963189{col 93}{space 3} .7211111
{txt}{space 19}US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.1518008{col 52}{space 2}  .094503{col 63}{space 1}   -1.61{col 72}{space 3}0.109{col 80}{space 4}-.3373844{col 93}{space 3} .0337829
{txt}{space 38} {c |}
c.ElectionPeriod#c.US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.1510917{col 52}{space 2} .0718704{col 63}{space 1}   -2.10{col 72}{space 3}0.036{col 80}{space 4}-.2922297{col 93}{space 3}-.0099537
{txt}{space 38} {c |}
{space 26}ElectionYear {c |}{col 40}{res}{space 2} .1781234{col 52}{space 2} .1284593{col 63}{space 1}    1.39{col 72}{space 3}0.166{col 80}{space 4}-.0741432{col 93}{space 3} .4303899
{txt}{space 38} {c |}
{space 17}deltaReserves_Imports {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.1819449{col 52}{space 2} .0588952{col 63}{space 1}   -3.09{col 72}{space 3}0.002{col 80}{space 4}-.2976025{col 93}{space 3}-.0662874
{txt}{space 38} {c |}
{space 31}GDPpcap {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0000898{col 52}{space 2} .0000579{col 63}{space 1}    1.55{col 72}{space 3}0.122{col 80}{space 4} -.000024{col 93}{space 3} .0002036
{txt}{space 38} {c |}
{space 29}GDPgrowth {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0027642{col 52}{space 2}  .016145{col 63}{space 1}   -0.17{col 72}{space 3}0.864{col 80}{space 4}-.0344695{col 93}{space 3} .0289411
{txt}{space 38} {c |}
{space 21}ny_gdp_totl_rt_zs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} -.003833{col 52}{space 2} .0204538{col 63}{space 1}   -0.19{col 72}{space 3}0.851{col 80}{space 4}-.0439999{col 93}{space 3}  .036334
{txt}{space 38} {c |}
{space 20}CurrAcctBal_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0016009{col 52}{space 2} .0087992{col 63}{space 1}   -0.18{col 72}{space 3}0.856{col 80}{space 4}-.0188806{col 93}{space 3} .0156789
{txt}{space 38} {c |}
{space 18}ExtDebtStocks_PerGNI {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0003822{col 52}{space 2} .0009673{col 63}{space 1}   -0.40{col 72}{space 3}0.693{col 80}{space 4}-.0022818{col 93}{space 3} .0015174
{txt}{space 38} {c |}
{space 20}DebtService_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-1.021764{col 52}{space 2} .9814366{col 63}{space 1}   -1.04{col 72}{space 3}0.298{col 80}{space 4}-2.949095{col 93}{space 3} .9055664
{txt}{space 38} {c |}
{space 14}Inflation_annGDPdeflator {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0119266{col 52}{space 2} .0071537{col 63}{space 1}    1.67{col 72}{space 3}0.096{col 80}{space 4}-.0021216{col 93}{space 3} .0259749
{txt}{space 38} {c |}
{space 16}PegBandManaged_NoUnion {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .1602494{col 52}{space 2} .1739839{col 63}{space 1}    0.92{col 72}{space 3}0.357{col 80}{space 4}-.1814177{col 93}{space 3} .5019165
{txt}{space 38} {c |}
{space 26}lvaw_garriga {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.6372486{col 52}{space 2} .6246812{col 63}{space 1}   -1.02{col 72}{space 3}0.308{col 80}{space 4}-1.863988{col 93}{space 3} .5894911
{txt}{space 38} {c |}
{space 26}Taxes_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} 4.325907{col 52}{space 2}  2.38558{col 63}{space 1}    1.81{col 72}{space 3}0.070{col 80}{space 4}-.3588608{col 93}{space 3} 9.010675
{txt}{space 38} {c |}
{space 30}BestCRtg {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0692656{col 52}{space 2}  .028839{col 63}{space 1}    2.40{col 72}{space 3}0.017{col 80}{space 4}  .012632{col 93}{space 3} .1258992
{txt}{space 38} {c |}
{space 34}cyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0250921{col 52}{space 2} .0126513{col 63}{space 1}    1.98{col 72}{space 3}0.048{col 80}{space 4} .0002477{col 93}{space 3} .0499365
{txt}{space 38} {c |}
{space 34}dyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} -.021324{col 52}{space 2} .0123178{col 63}{space 1}   -1.73{col 72}{space 3}0.084{col 80}{space 4}-.0455135{col 93}{space 3} .0028655
{txt}{space 38} {c |}
{space 25}v2x_polyarchy {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.5591525{col 52}{space 2} .6460507{col 63}{space 1}   -0.87{col 72}{space 3}0.387{col 80}{space 4}-1.827857{col 93}{space 3} .7095523
{txt}{space 38} {c |}
{space 31}LeftGov {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0373418{col 52}{space 2} .1200393{col 63}{space 1}   -0.31{col 72}{space 3}0.756{col 80}{space 4}-.2730731{col 93}{space 3} .1983896
{txt}{space 38} {c |}
{space 27}country_num {c |}
{space 34}ARG  {c |}{col 40}{res}{space 2}-.8523044{col 52}{space 2} .6397509{col 63}{space 1}   -1.33{col 72}{space 3}0.183{col 80}{space 4}-2.108638{col 93}{space 3} .4040289
{txt}{space 34}BDI  {c |}{col 40}{res}{space 2}-.0598081{col 52}{space 2} .7308833{col 63}{space 1}   -0.08{col 72}{space 3}0.935{col 80}{space 4}-1.495106{col 93}{space 3}  1.37549
{txt}{space 34}BGD  {c |}{col 40}{res}{space 2} .0003138{col 52}{space 2} .5398981{col 63}{space 1}    0.00{col 72}{space 3}1.000{col 80}{space 4} -1.05993{col 93}{space 3} 1.060558
{txt}{space 34}BGR  {c |}{col 40}{res}{space 2} .3476469{col 52}{space 2} .3857534{col 63}{space 1}    0.90{col 72}{space 3}0.368{col 80}{space 4}  -.40989{col 93}{space 3} 1.105184
{txt}{space 34}BIH  {c |}{col 40}{res}{space 2} .2657017{col 52}{space 2} .3353943{col 63}{space 1}    0.79{col 72}{space 3}0.429{col 80}{space 4}-.3929407{col 93}{space 3} .9243442
{txt}{space 34}BRA  {c |}{col 40}{res}{space 2} .0413483{col 52}{space 2} .7340493{col 63}{space 1}    0.06{col 72}{space 3}0.955{col 80}{space 4}-1.400167{col 93}{space 3} 1.482864
{txt}{space 34}BWA  {c |}{col 40}{res}{space 2}-.5185469{col 52}{space 2}  .753156{col 63}{space 1}   -0.69{col 72}{space 3}0.491{col 80}{space 4}-1.997583{col 93}{space 3} .9604897
{txt}{space 34}DOM  {c |}{col 40}{res}{space 2} .3339241{col 52}{space 2} .3248631{col 63}{space 1}    1.03{col 72}{space 3}0.304{col 80}{space 4}-.3040372{col 93}{space 3} .9718854
{txt}{space 34}ECU  {c |}{col 40}{res}{space 2} .1034716{col 52}{space 2} .3936599{col 63}{space 1}    0.26{col 72}{space 3}0.793{col 80}{space 4}-.6695918{col 93}{space 3}  .876535
{txt}{space 34}GEO  {c |}{col 40}{res}{space 2}  .201646{col 52}{space 2} .2725098{col 63}{space 1}    0.74{col 72}{space 3}0.460{col 80}{space 4}-.3335047{col 93}{space 3} .7367967
{txt}{space 34}GHA  {c |}{col 40}{res}{space 2} .5337168{col 52}{space 2} .5161802{col 63}{space 1}    1.03{col 72}{space 3}0.302{col 80}{space 4}-.4799502{col 93}{space 3} 1.547384
{txt}{space 34}GMB  {c |}{col 40}{res}{space 2} 1.104488{col 52}{space 2} .5041336{col 63}{space 1}    2.19{col 72}{space 3}0.029{col 80}{space 4} .1144774{col 93}{space 3} 2.094498
{txt}{space 34}GTM  {c |}{col 40}{res}{space 2} .9001532{col 52}{space 2} .3369953{col 63}{space 1}    2.67{col 72}{space 3}0.008{col 80}{space 4} .2383669{col 93}{space 3}  1.56194
{txt}{space 34}HND  {c |}{col 40}{res}{space 2}-.1721025{col 52}{space 2} .2805366{col 63}{space 1}   -0.61{col 72}{space 3}0.540{col 80}{space 4} -.723016{col 93}{space 3} .3788111
{txt}{space 34}IDN  {c |}{col 40}{res}{space 2} .7374683{col 52}{space 2}  .448547{col 63}{space 1}    1.64{col 72}{space 3}0.101{col 80}{space 4}-.1433816{col 93}{space 3} 1.618318
{txt}{space 34}IND  {c |}{col 40}{res}{space 2} .6352391{col 52}{space 2} .6934317{col 63}{space 1}    0.92{col 72}{space 3}0.360{col 80}{space 4}-.7265118{col 93}{space 3}  1.99699
{txt}{space 34}JAM  {c |}{col 40}{res}{space 2}-.2021847{col 52}{space 2} .4486046{col 63}{space 1}   -0.45{col 72}{space 3}0.652{col 80}{space 4}-1.083148{col 93}{space 3} .6787784
{txt}{space 34}KEN  {c |}{col 40}{res}{space 2} .1834983{col 52}{space 2} .3310597{col 63}{space 1}    0.55{col 72}{space 3}0.580{col 80}{space 4}-.4666318{col 93}{space 3} .8336284
{txt}{space 34}LBR  {c |}{col 40}{res}{space 2}  .640599{col 52}{space 2} .6010766{col 63}{space 1}    1.07{col 72}{space 3}0.287{col 80}{space 4}-.5397864{col 93}{space 3} 1.820984
{txt}{space 34}LKA  {c |}{col 40}{res}{space 2} -.171018{col 52}{space 2} .4141184{col 63}{space 1}   -0.41{col 72}{space 3}0.680{col 80}{space 4}-.9842576{col 93}{space 3} .6422217
{txt}{space 34}LSO  {c |}{col 40}{res}{space 2}-.4975102{col 52}{space 2} .6689452{col 63}{space 1}   -0.74{col 72}{space 3}0.457{col 80}{space 4}-1.811175{col 93}{space 3} .8161545
{txt}{space 34}MDA  {c |}{col 40}{res}{space 2} .0192544{col 52}{space 2} .2470747{col 63}{space 1}    0.08{col 72}{space 3}0.938{col 80}{space 4}-.4659472{col 93}{space 3}  .504456
{txt}{space 34}MDG  {c |}{col 40}{res}{space 2} .1553505{col 52}{space 2} .4370044{col 63}{space 1}    0.36{col 72}{space 3}0.722{col 80}{space 4}-.7028323{col 93}{space 3} 1.013533
{txt}{space 34}MNG  {c |}{col 40}{res}{space 2} .0549794{col 52}{space 2} .4809698{col 63}{space 1}    0.11{col 72}{space 3}0.909{col 80}{space 4} -.889542{col 93}{space 3} .9995008
{txt}{space 34}MUS  {c |}{col 40}{res}{space 2}-.2111191{col 52}{space 2} .5268567{col 63}{space 1}   -0.40{col 72}{space 3}0.689{col 80}{space 4}-1.245753{col 93}{space 3} .8235144
{txt}{space 34}MWI  {c |}{col 40}{res}{space 2} .0153032{col 52}{space 2} .4580804{col 63}{space 1}    0.03{col 72}{space 3}0.973{col 80}{space 4}-.8842684{col 93}{space 3} .9148748
{txt}{space 34}NIC  {c |}{col 40}{res}{space 2}  .487036{col 52}{space 2} .3315419{col 63}{space 1}    1.47{col 72}{space 3}0.142{col 80}{space 4}-.1640411{col 93}{space 3} 1.138113
{txt}{space 34}NPL  {c |}{col 40}{res}{space 2} .2888598{col 52}{space 2} .5678683{col 63}{space 1}    0.51{col 72}{space 3}0.611{col 80}{space 4}-.8263116{col 93}{space 3} 1.404031
{txt}{space 34}PAK  {c |}{col 40}{res}{space 2}-.3770929{col 52}{space 2} .6709112{col 63}{space 1}   -0.56{col 72}{space 3}0.574{col 80}{space 4}-1.694618{col 93}{space 3} .9404326
{txt}{space 34}PAN  {c |}{col 40}{res}{space 2}-.9226073{col 52}{space 2} .7147722{col 63}{space 1}   -1.29{col 72}{space 3}0.197{col 80}{space 4}-2.326267{col 93}{space 3} .4810519
{txt}{space 34}PER  {c |}{col 40}{res}{space 2} .5766509{col 52}{space 2} .4395616{col 63}{space 1}    1.31{col 72}{space 3}0.190{col 80}{space 4}-.2865536{col 93}{space 3} 1.439855
{txt}{space 34}PHL  {c |}{col 40}{res}{space 2} .6976023{col 52}{space 2} .4210957{col 63}{space 1}    1.66{col 72}{space 3}0.098{col 80}{space 4}-.1293392{col 93}{space 3} 1.524544
{txt}{space 34}PNG  {c |}{col 40}{res}{space 2} .3673804{col 52}{space 2} .5517562{col 63}{space 1}    0.67{col 72}{space 3}0.506{col 80}{space 4}-.7161502{col 93}{space 3} 1.450911
{txt}{space 34}PRY  {c |}{col 40}{res}{space 2} .5883234{col 52}{space 2} .4555387{col 63}{space 1}    1.29{col 72}{space 3}0.197{col 80}{space 4}-.3062567{col 93}{space 3} 1.482903
{txt}{space 34}ROU  {c |}{col 40}{res}{space 2} .0925737{col 52}{space 2} .4096804{col 63}{space 1}    0.23{col 72}{space 3}0.821{col 80}{space 4}-.7119506{col 93}{space 3}  .897098
{txt}{space 34}SLE  {c |}{col 40}{res}{space 2} .4423005{col 52}{space 2} .4662958{col 63}{space 1}    0.95{col 72}{space 3}0.343{col 80}{space 4}-.4734044{col 93}{space 3} 1.358005
{txt}{space 34}SLV  {c |}{col 40}{res}{space 2} .2851952{col 52}{space 2} .2887646{col 63}{space 1}    0.99{col 72}{space 3}0.324{col 80}{space 4}-.2818765{col 93}{space 3}  .852267
{txt}{space 34}THA  {c |}{col 40}{res}{space 2}-.4820957{col 52}{space 2} .5648348{col 63}{space 1}   -0.85{col 72}{space 3}0.394{col 80}{space 4} -1.59131{col 93}{space 3} .6271186
{txt}{space 34}TLS  {c |}{col 40}{res}{space 2} 1.584005{col 52}{space 2} 2.010439{col 63}{space 1}    0.79{col 72}{space 3}0.431{col 80}{space 4}-2.364065{col 93}{space 3} 5.532076
{txt}{space 34}TUN  {c |}{col 40}{res}{space 2}-.5466599{col 52}{space 2} .6809829{col 63}{space 1}   -0.80{col 72}{space 3}0.422{col 80}{space 4}-1.883964{col 93}{space 3} .7906443
{txt}{space 34}UKR  {c |}{col 40}{res}{space 2} .1739266{col 52}{space 2} .3756583{col 63}{space 1}    0.46{col 72}{space 3}0.644{col 80}{space 4}-.5637856{col 93}{space 3} .9116389
{txt}{space 34}ZAF  {c |}{col 40}{res}{space 2}  .160927{col 52}{space 2} .5336946{col 63}{space 1}    0.30{col 72}{space 3}0.763{col 80}{space 4}-.8871345{col 93}{space 3} 1.208989
{txt}{space 34}ZMB  {c |}{col 40}{res}{space 2} .2226885{col 52}{space 2} .5800919{col 63}{space 1}    0.38{col 72}{space 3}0.701{col 80}{space 4}-.9164875{col 93}{space 3} 1.361864
{txt}{space 38} {c |}
{space 34}year {c |}{col 40}{res}{space 2} .1352866{col 52}{space 2} .0573145{col 63}{space 1}    2.36{col 72}{space 3}0.019{col 80}{space 4} .0227333{col 93}{space 3} .2478399
{txt}{space 19}GlobalReserveLevels {c |}{col 40}{res}{space 2} 2.13e-11{col 52}{space 2} 8.84e-12{col 63}{space 1}    2.41{col 72}{space 3}0.016{col 80}{space 4} 3.94e-12{col 93}{space 3} 3.87e-11
{txt}{space 38} {c |}
{space 10}c.year#c.GlobalReserveLevels {c |}{col 40}{res}{space 2}-1.07e-14{col 52}{space 2} 4.42e-15{col 63}{space 1}   -2.42{col 72}{space 3}0.016{col 80}{space 4}-1.94e-14{col 93}{space 3}-2.03e-15
{txt}{space 38} {c |}
{space 33}_cons {c |}{col 40}{res}{space 2}-271.1086{col 52}{space 2} 114.6425{col 63}{space 1}   -2.36{col 72}{space 3}0.018{col 80}{space 4} -496.242{col 93}{space 3}-45.97531
{txt}{hline 39}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store m3
{txt}
{com}. 
. regress deltaReserves_Imports c.ElectionPeriod##c.US10YrYields_AnnAvg ElectionYear  l.(deltaReserves_Imports GDPpcap GDPgrowth ny_gdp_totl_rt_zs CurrAcctBal_PerGDP ExtDebtStocks_PerGNI DebtService_PerGDP Inflation_annGDPdeflator PegBandManaged_NoUnion lvaw_garriga Taxes_PerGDP BestCRtg cyrs dyrs v2x_polyarchy Left) i.country_num c.year##c.GlobalReserveLevels if sample4==1, robust

{txt}Linear regression                               Number of obs     = {res}       556
                                                {txt}{help j_robustsingular:F(62, 491) }       =  {res}        .
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.1147
                                                {txt}Root MSE          =    {res} 1.0983

{txt}{hline 39}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 40}{c |}{col 52}    Robust
{col 1}                 deltaReserves_Imports{col 40}{c |}      Coef.{col 52}   Std. Err.{col 64}      t{col 72}   P>|t|{col 80}     [95% Con{col 93}f. Interval]
{hline 39}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 24}ElectionPeriod {c |}{col 40}{res}{space 2} .3713699{col 52}{space 2} .2687113{col 63}{space 1}    1.38{col 72}{space 3}0.168{col 80}{space 4} -.156596{col 93}{space 3} .8993358
{txt}{space 19}US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.2106779{col 52}{space 2} .1093572{col 63}{space 1}   -1.93{col 72}{space 3}0.055{col 80}{space 4}-.4255438{col 93}{space 3}  .004188
{txt}{space 38} {c |}
c.ElectionPeriod#c.US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.1715596{col 52}{space 2}  .082475{col 63}{space 1}   -2.08{col 72}{space 3}0.038{col 80}{space 4} -.333607{col 93}{space 3}-.0095122
{txt}{space 38} {c |}
{space 26}ElectionYear {c |}{col 40}{res}{space 2}  .156171{col 52}{space 2} .1497197{col 63}{space 1}    1.04{col 72}{space 3}0.297{col 80}{space 4}-.1379994{col 93}{space 3} .4503413
{txt}{space 38} {c |}
{space 17}deltaReserves_Imports {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.1823985{col 52}{space 2} .0654505{col 63}{space 1}   -2.79{col 72}{space 3}0.006{col 80}{space 4}-.3109961{col 93}{space 3} -.053801
{txt}{space 38} {c |}
{space 31}GDPpcap {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0000855{col 52}{space 2} .0000643{col 63}{space 1}    1.33{col 72}{space 3}0.184{col 80}{space 4}-.0000409{col 93}{space 3} .0002118
{txt}{space 38} {c |}
{space 29}GDPgrowth {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0053664{col 52}{space 2} .0208469{col 63}{space 1}    0.26{col 72}{space 3}0.797{col 80}{space 4}-.0355938{col 93}{space 3} .0463266
{txt}{space 38} {c |}
{space 21}ny_gdp_totl_rt_zs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} -.014614{col 52}{space 2} .0238076{col 63}{space 1}   -0.61{col 72}{space 3}0.540{col 80}{space 4}-.0613913{col 93}{space 3} .0321634
{txt}{space 38} {c |}
{space 20}CurrAcctBal_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0015613{col 52}{space 2} .0105772{col 63}{space 1}    0.15{col 72}{space 3}0.883{col 80}{space 4}-.0192208{col 93}{space 3} .0223433
{txt}{space 38} {c |}
{space 18}ExtDebtStocks_PerGNI {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0002638{col 52}{space 2} .0010145{col 63}{space 1}    0.26{col 72}{space 3}0.795{col 80}{space 4}-.0017295{col 93}{space 3} .0022571
{txt}{space 38} {c |}
{space 20}DebtService_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-1.904766{col 52}{space 2} 1.094599{col 63}{space 1}   -1.74{col 72}{space 3}0.082{col 80}{space 4}-4.055442{col 93}{space 3} .2459108
{txt}{space 38} {c |}
{space 14}Inflation_annGDPdeflator {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0190809{col 52}{space 2} .0087915{col 63}{space 1}    2.17{col 72}{space 3}0.030{col 80}{space 4} .0018073{col 93}{space 3} .0363546
{txt}{space 38} {c |}
{space 16}PegBandManaged_NoUnion {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0789884{col 52}{space 2} .1949721{col 63}{space 1}    0.41{col 72}{space 3}0.686{col 80}{space 4}-.3040941{col 93}{space 3} .4620709
{txt}{space 38} {c |}
{space 26}lvaw_garriga {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .1121144{col 52}{space 2} .6820608{col 63}{space 1}    0.16{col 72}{space 3}0.870{col 80}{space 4}-1.228004{col 93}{space 3} 1.452232
{txt}{space 38} {c |}
{space 26}Taxes_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}  4.32178{col 52}{space 2} 2.605995{col 63}{space 1}    1.66{col 72}{space 3}0.098{col 80}{space 4}-.7984972{col 93}{space 3} 9.442058
{txt}{space 38} {c |}
{space 30}BestCRtg {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0619667{col 52}{space 2} .0329579{col 63}{space 1}    1.88{col 72}{space 3}0.061{col 80}{space 4}-.0027893{col 93}{space 3} .1267227
{txt}{space 38} {c |}
{space 34}cyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0205548{col 52}{space 2} .0149376{col 63}{space 1}    1.38{col 72}{space 3}0.169{col 80}{space 4}-.0087946{col 93}{space 3} .0499043
{txt}{space 38} {c |}
{space 34}dyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} -.023845{col 52}{space 2} .0127657{col 63}{space 1}   -1.87{col 72}{space 3}0.062{col 80}{space 4} -.048927{col 93}{space 3} .0012371
{txt}{space 38} {c |}
{space 25}v2x_polyarchy {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0549822{col 52}{space 2} .7811823{col 63}{space 1}    0.07{col 72}{space 3}0.944{col 80}{space 4}-1.479891{col 93}{space 3} 1.589855
{txt}{space 38} {c |}
{space 31}LeftGov {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0085225{col 52}{space 2} .1336887{col 63}{space 1}   -0.06{col 72}{space 3}0.949{col 80}{space 4} -.271195{col 93}{space 3}   .25415
{txt}{space 38} {c |}
{space 27}country_num {c |}
{space 34}ARG  {c |}{col 40}{res}{space 2}-1.238243{col 52}{space 2} .7392635{col 63}{space 1}   -1.67{col 72}{space 3}0.095{col 80}{space 4}-2.690753{col 93}{space 3} .2142671
{txt}{space 34}BGD  {c |}{col 40}{res}{space 2} .0850024{col 52}{space 2} .5594112{col 63}{space 1}    0.15{col 72}{space 3}0.879{col 80}{space 4}-1.014133{col 93}{space 3} 1.184138
{txt}{space 34}BGR  {c |}{col 40}{res}{space 2}  .005686{col 52}{space 2} .4240048{col 63}{space 1}    0.01{col 72}{space 3}0.989{col 80}{space 4}-.8274018{col 93}{space 3} .8387738
{txt}{space 34}BIH  {c |}{col 40}{res}{space 2} -.051357{col 52}{space 2} .3645082{col 63}{space 1}   -0.14{col 72}{space 3}0.888{col 80}{space 4}-.7675454{col 93}{space 3} .6648313
{txt}{space 34}BRA  {c |}{col 40}{res}{space 2} .1054196{col 52}{space 2} .8840529{col 63}{space 1}    0.12{col 72}{space 3}0.905{col 80}{space 4}-1.631574{col 93}{space 3} 1.842413
{txt}{space 34}BWA  {c |}{col 40}{res}{space 2}-.6451149{col 52}{space 2} .7811876{col 63}{space 1}   -0.83{col 72}{space 3}0.409{col 80}{space 4}-2.179998{col 93}{space 3} .8897681
{txt}{space 34}DOM  {c |}{col 40}{res}{space 2} .1738875{col 52}{space 2}  .395391{col 63}{space 1}    0.44{col 72}{space 3}0.660{col 80}{space 4}-.6029796{col 93}{space 3} .9507547
{txt}{space 34}ECU  {c |}{col 40}{res}{space 2} .0933585{col 52}{space 2}  .482949{col 63}{space 1}    0.19{col 72}{space 3}0.847{col 80}{space 4}-.8555431{col 93}{space 3}  1.04226
{txt}{space 34}GEO  {c |}{col 40}{res}{space 2}  -.08577{col 52}{space 2} .2915301{col 63}{space 1}   -0.29{col 72}{space 3}0.769{col 80}{space 4}-.6585705{col 93}{space 3} .4870304
{txt}{space 34}GHA  {c |}{col 40}{res}{space 2} .3745594{col 52}{space 2} .6014249{col 63}{space 1}    0.62{col 72}{space 3}0.534{col 80}{space 4}-.8071246{col 93}{space 3} 1.556243
{txt}{space 34}GMB  {c |}{col 40}{res}{space 2}  1.25355{col 52}{space 2} .5263327{col 63}{space 1}    2.38{col 72}{space 3}0.018{col 80}{space 4} .2194079{col 93}{space 3} 2.287692
{txt}{space 34}GTM  {c |}{col 40}{res}{space 2} .7533095{col 52}{space 2} .3710409{col 63}{space 1}    2.03{col 72}{space 3}0.043{col 80}{space 4} .0242858{col 93}{space 3} 1.482333
{txt}{space 34}HND  {c |}{col 40}{res}{space 2}-.4870123{col 52}{space 2}  .340613{col 63}{space 1}   -1.43{col 72}{space 3}0.153{col 80}{space 4}-1.156251{col 93}{space 3} .1822265
{txt}{space 34}IDN  {c |}{col 40}{res}{space 2} .4505609{col 52}{space 2} .4930192{col 63}{space 1}    0.91{col 72}{space 3}0.361{col 80}{space 4}-.5181268{col 93}{space 3} 1.419249
{txt}{space 34}IND  {c |}{col 40}{res}{space 2} .7657911{col 52}{space 2} .7537963{col 63}{space 1}    1.02{col 72}{space 3}0.310{col 80}{space 4}-.7152732{col 93}{space 3} 2.246855
{txt}{space 34}JAM  {c |}{col 40}{res}{space 2}-.1450583{col 52}{space 2} .4828409{col 63}{space 1}   -0.30{col 72}{space 3}0.764{col 80}{space 4}-1.093748{col 93}{space 3}  .803631
{txt}{space 34}KEN  {c |}{col 40}{res}{space 2} .3599263{col 52}{space 2} .3930877{col 63}{space 1}    0.92{col 72}{space 3}0.360{col 80}{space 4}-.4124153{col 93}{space 3} 1.132268
{txt}{space 34}LBR  {c |}{col 40}{res}{space 2} .8616005{col 52}{space 2} .6621179{col 63}{space 1}    1.30{col 72}{space 3}0.194{col 80}{space 4}-.4393336{col 93}{space 3} 2.162535
{txt}{space 34}LKA  {c |}{col 40}{res}{space 2}-.2581046{col 52}{space 2} .4278968{col 63}{space 1}   -0.60{col 72}{space 3}0.547{col 80}{space 4}-1.098839{col 93}{space 3} .5826301
{txt}{space 34}LSO  {c |}{col 40}{res}{space 2}-.6330514{col 52}{space 2}  .777237{col 63}{space 1}   -0.81{col 72}{space 3}0.416{col 80}{space 4}-2.160172{col 93}{space 3} .8940696
{txt}{space 34}MDA  {c |}{col 40}{res}{space 2}-.1995206{col 52}{space 2} .3063058{col 63}{space 1}   -0.65{col 72}{space 3}0.515{col 80}{space 4}-.8013524{col 93}{space 3} .4023113
{txt}{space 34}MDG  {c |}{col 40}{res}{space 2}-.3143396{col 52}{space 2} .4036943{col 63}{space 1}   -0.78{col 72}{space 3}0.437{col 80}{space 4}-1.107521{col 93}{space 3} .4788419
{txt}{space 34}MNG  {c |}{col 40}{res}{space 2} .0623025{col 52}{space 2}   .53712{col 63}{space 1}    0.12{col 72}{space 3}0.908{col 80}{space 4}-.9930348{col 93}{space 3}  1.11764
{txt}{space 34}MUS  {c |}{col 40}{res}{space 2}  -.25137{col 52}{space 2} .5798751{col 63}{space 1}   -0.43{col 72}{space 3}0.665{col 80}{space 4}-1.390713{col 93}{space 3} .8879729
{txt}{space 34}MWI  {c |}{col 40}{res}{space 2} .5879711{col 52}{space 2} .5204081{col 63}{space 1}    1.13{col 72}{space 3}0.259{col 80}{space 4}-.4345305{col 93}{space 3} 1.610473
{txt}{space 34}NIC  {c |}{col 40}{res}{space 2} .3203047{col 52}{space 2} .3311597{col 63}{space 1}    0.97{col 72}{space 3}0.334{col 80}{space 4}-.3303602{col 93}{space 3} .9709696
{txt}{space 34}NPL  {c |}{col 40}{res}{space 2}-.1045919{col 52}{space 2} .7217281{col 63}{space 1}   -0.14{col 72}{space 3}0.885{col 80}{space 4}-1.522648{col 93}{space 3} 1.313465
{txt}{space 34}PAN  {c |}{col 40}{res}{space 2}-.6490307{col 52}{space 2} .8119899{col 63}{space 1}   -0.80{col 72}{space 3}0.424{col 80}{space 4}-2.244434{col 93}{space 3} .9463729
{txt}{space 34}PER  {c |}{col 40}{res}{space 2} .3550908{col 52}{space 2} .4922161{col 63}{space 1}    0.72{col 72}{space 3}0.471{col 80}{space 4}-.6120189{col 93}{space 3} 1.322201
{txt}{space 34}PHL  {c |}{col 40}{res}{space 2} .4869713{col 52}{space 2} .5115386{col 63}{space 1}    0.95{col 72}{space 3}0.342{col 80}{space 4}-.5181035{col 93}{space 3} 1.492046
{txt}{space 34}PNG  {c |}{col 40}{res}{space 2} .9388974{col 52}{space 2} .7828417{col 63}{space 1}    1.20{col 72}{space 3}0.231{col 80}{space 4}-.5992357{col 93}{space 3}  2.47703
{txt}{space 34}PRY  {c |}{col 40}{res}{space 2} .5132137{col 52}{space 2} .4982714{col 63}{space 1}    1.03{col 72}{space 3}0.304{col 80}{space 4}-.4657936{col 93}{space 3} 1.492221
{txt}{space 34}ROU  {c |}{col 40}{res}{space 2}-.2243959{col 52}{space 2} .4756444{col 63}{space 1}   -0.47{col 72}{space 3}0.637{col 80}{space 4}-1.158946{col 93}{space 3} .7101537
{txt}{space 34}SLE  {c |}{col 40}{res}{space 2} .4440309{col 52}{space 2}  .519686{col 63}{space 1}    0.85{col 72}{space 3}0.393{col 80}{space 4} -.577052{col 93}{space 3} 1.465114
{txt}{space 34}SLV  {c |}{col 40}{res}{space 2} .1359141{col 52}{space 2}  .319192{col 63}{space 1}    0.43{col 72}{space 3}0.670{col 80}{space 4}-.4912367{col 93}{space 3} .7630649
{txt}{space 34}THA  {c |}{col 40}{res}{space 2} .0770563{col 52}{space 2} .7321637{col 63}{space 1}    0.11{col 72}{space 3}0.916{col 80}{space 4}-1.361504{col 93}{space 3} 1.515617
{txt}{space 34}TLS  {c |}{col 40}{res}{space 2} 2.351936{col 52}{space 2} 2.118302{col 63}{space 1}    1.11{col 72}{space 3}0.267{col 80}{space 4} -1.81012{col 93}{space 3} 6.513992
{txt}{space 34}TUN  {c |}{col 40}{res}{space 2}-.3974703{col 52}{space 2} .6467806{col 63}{space 1}   -0.61{col 72}{space 3}0.539{col 80}{space 4} -1.66827{col 93}{space 3}  .873329
{txt}{space 34}UKR  {c |}{col 40}{res}{space 2}-.3346204{col 52}{space 2}  .552666{col 63}{space 1}   -0.61{col 72}{space 3}0.545{col 80}{space 4}-1.420502{col 93}{space 3} .7512617
{txt}{space 34}ZAF  {c |}{col 40}{res}{space 2} .2121756{col 52}{space 2} .6524754{col 63}{space 1}    0.33{col 72}{space 3}0.745{col 80}{space 4}-1.069813{col 93}{space 3} 1.494164
{txt}{space 34}ZMB  {c |}{col 40}{res}{space 2} .4471709{col 52}{space 2}   .74922{col 63}{space 1}    0.60{col 72}{space 3}0.551{col 80}{space 4}-1.024902{col 93}{space 3} 1.919244
{txt}{space 38} {c |}
{space 34}year {c |}{col 40}{res}{space 2} .1018868{col 52}{space 2} .0639319{col 63}{space 1}    1.59{col 72}{space 3}0.112{col 80}{space 4}-.0237271{col 93}{space 3} .2275007
{txt}{space 19}GlobalReserveLevels {c |}{col 40}{res}{space 2} 1.62e-11{col 52}{space 2} 1.00e-11{col 63}{space 1}    1.61{col 72}{space 3}0.107{col 80}{space 4}-3.53e-12{col 93}{space 3} 3.59e-11
{txt}{space 38} {c |}
{space 10}c.year#c.GlobalReserveLevels {c |}{col 40}{res}{space 2}-8.16e-15{col 52}{space 2} 5.02e-15{col 63}{space 1}   -1.63{col 72}{space 3}0.105{col 80}{space 4}-1.80e-14{col 93}{space 3} 1.70e-15
{txt}{space 38} {c |}
{space 33}_cons {c |}{col 40}{res}{space 2}-204.5748{col 52}{space 2} 127.9257{col 63}{space 1}   -1.60{col 72}{space 3}0.110{col 80}{space 4}-455.9241{col 93}{space 3} 46.77451
{txt}{hline 39}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store m4
{txt}
{com}. 
. 
. lab var post_Election "Post-Election"
{txt}
{com}. 
. estout m2 m3 m4, cells(b(star fmt(%9.3f)) se(par fmt(%9.3f))) starlevels(* 0.1 ** 0.05 ) ///
> stats(r2 N , fmt(%9.2f %9.0f) labels("R2" ))  style(tex) ///
> legend label collabels(none) ///
> varlabels(_cons Constant  "c.ElectionPeriod#c.US10YrYields_AnnAvg" "Election*USrates" "c.year#c.GlobalReserveLevels000" "Year*GlobalReserves") ///
> keep(ElectionPeriod US10YrYields_AnnAvg c.ElectionPeriod#c.US10YrYields_AnnAvg ElectionYear)  ///
> mlabels () ///
> title("") 
{res}
                    &          m2  &          m3  &          m4  \\
ElectionPeriod      &       0.231  &       0.262  &       0.371  \\
                    &     (0.213)  &     (0.234)  &     (0.269)  \\
USrates             &      -0.179**&      -0.152  &      -0.211* \\
                    &     (0.084)  &     (0.095)  &     (0.109)  \\
Election*USrates    &      -0.136**&      -0.151**&      -0.172**\\
                    &     (0.065)  &     (0.072)  &     (0.082)  \\
ElectionYear        &       0.142  &       0.178  &       0.156  \\
                    &     (0.114)  &     (0.128)  &     (0.150)  \\
R2                  &        0.10  &        0.11  &        0.11  \\
N                   &         855  &         689  &         556  \\
* p<0.1, ** p<0.05
{txt}
{com}. 
. 
. 
. 
. ***************************************************************************************************************************************************************************
. *Section D: Matched sample with Entropy 
. 
. 
. *Re-set to main sample
. use "data1_final.dta", clear
{txt}
{com}. *Data prep
. tsset country_num year
{res}{txt}{col 8}panel variable:  {res}country_num (unbalanced)
{txt}{col 9}time variable:  {res}{col 25}year, 2000 to 2023
{txt}{col 17}delta:  {res}1 unit
{txt}
{com}. 
. *Subset to developing
. keep if oecd_1yes == 0
{txt}(868 observations deleted)

{com}. *Subset to VDem democracy level
. keep if v2x_polyarchy > .42
{txt}(1,516 observations deleted)

{com}. 
. * Generate pre-election share
. replace  monthDPI= . if ElectionPeriod==0 
{txt}(93 real changes made, 93 to missing)

{com}. 
. gen preelec_share = 0 if year <=2020
{txt}(265 missing values generated)

{com}. replace preelec_share = monthDPI/12 if monthDPI != . 
{txt}(236 real changes made)

{com}. by iso, sort: replace preelec_share = (12-monthDPI[_n+1])/12 if monthDPI[_n+1] != .
{txt}(196 real changes made)

{com}. 
. tsset country_num year
{res}{txt}{col 8}panel variable:  {res}country_num (unbalanced)
{txt}{col 9}time variable:  {res}{col 25}year, 2000 to 2023, but with gaps
{txt}{col 17}delta:  {res}1 unit
{txt}
{com}. 
. 
. * Generate post-election share (monthly) 
. gen postelec_share = 0 if year <=2020
{txt}(265 missing values generated)

{com}. replace postelec_share = (12-monthDPI)/12 if monthDPI != .
{txt}(213 real changes made)

{com}. 
. * Generate post-election share (annual) 
. 
. gen post_Election =0 if year <=2020
{txt}(265 missing values generated)

{com}. replace post_Election =1 if year <=2020 & ElectionLastYear==1
{txt}(221 real changes made)

{com}. 
. 
. 
. gen investgrade = 0 
{txt}
{com}. replace investgrade = 1 if BestCRtg>=15
{txt}(843 real changes made)

{com}. 
. 
. 
. *Entropy balance
. ebalance investgrade GDPpcap GDPgrowth ny_gdp_totl_rt_zs ///
>  DebtService_PerGDP lvaw_garriga Taxes_PerGDP v2x_polyarchy Inflation_annGDPdeflator  Left PegBandManaged_NoUnion  ///
> , ///
> tar(3 3 1 1 1 1 1 1 1 1 ) gen(ebw1) k(baltab) replace
{res}

Data Setup
{txt}Treatment variable:   {res}investgrade
{txt}Covariate adjustment:{res} GDPpcap GDPgrowth ny_gdp_totl_rt_zs DebtService_PerGDP lvaw_garriga Taxes_PerGDP v2x_polyarchy Inflation_annGDPdeflator LeftGov PegBandManaged_NoUnion {txt}(1st order).{res} GDPpcap GDPgrowth {txt}(2nd order).{res}{res} GDPpcap GDPgrowth {txt}(3rd order).


{res}Optimizing...
{txt}Iteration 1: Max Difference = {res}5616.26464{txt}
{txt}Iteration 2: Max Difference = {res}2064.37221{txt}
{txt}Iteration 3: Max Difference = {res}757.731385{txt}
{txt}Iteration 4: Max Difference = {res}277.118274{txt}
{txt}Iteration 5: Max Difference = {res}100.500778{txt}
{txt}Iteration 6: Max Difference = {res}35.9871692{txt}
{txt}Iteration 7: Max Difference = {res}13.1921775{txt}
{txt}Iteration 8: Max Difference = {res}6.02131441{txt}
{txt}Iteration 9: Max Difference = {res}3.8012037{txt}
{txt}Iteration 10: Max Difference = {res}2.34170982{txt}
{txt}Iteration 11: Max Difference = {res}1.26018301{txt}
{txt}Iteration 12: Max Difference = {res}.8258394{txt}
{txt}Iteration 13: Max Difference = {res}.535346328{txt}
{txt}Iteration 14: Max Difference = {res}.24431706{txt}
{txt}Iteration 15: Max Difference = {res}.040228451{txt}
{txt}Iteration 16: Max Difference = {res}.001376746{txt}
{txt}maximum difference smaller than the tolerance level; {res}convergence achieved


Treated units: {txt}438{col 24}{res}total of weights: {txt}438
{res}Control units: {txt}431{col 24}{res}total of weights: {txt}438


{res}Before: {txt}without weighting
{res}
{txt}{space 0}{space 13}{c |}{res}{txt}{space 1}{rcenter 31:Treat}{space 1}{c |}{space 1}{rcenter 31:Control}{space 1}
{space 0}{space 0}{ralign 12:}{space 1}{c |}{space 1}{ralign 9:mean}{space 1}{space 1}{ralign 9:variance}{space 1}{space 1}{ralign 9:skewness}{space 1}{c |}{space 1}{ralign 9:mean}{space 1}{space 1}{ralign 9:variance}{space 1}{space 1}{ralign 9:skewness}{space 1}
{space 0}{hline 13}{c   +}{hline 11}{hline 11}{hline 11}{c   +}{hline 11}{hline 11}{hline 11}
{space 0}{space 0}{ralign 12:GDPpcap}{space 1}{c |}{space 1}{ralign 9:{res:{sf:     2159}}}{space 1}{space 1}{ralign 9:{res:{sf:  6630851}}}{space 1}{space 1}{ralign 9:{res:{sf:    2.607}}}{space 1}{c |}{space 1}{ralign 9:{res:{sf:     4348}}}{space 1}{space 1}{ralign 9:{res:{sf:  8241880}}}{space 1}{space 1}{ralign 9:{res:{sf:    .9542}}}{space 1}
{space 0}{space 0}{ralign 12:GDPgrowth}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    4.265}}}{space 1}{space 1}{ralign 9:{res:{sf:    14.07}}}{space 1}{space 1}{ralign 9:{res:{sf:   -1.224}}}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    4.398}}}{space 1}{space 1}{ralign 9:{res:{sf:    9.613}}}{space 1}{space 1}{ralign 9:{res:{sf:   -.3898}}}{space 1}
{space 0}{space 0}{ralign 12:ny_gdp_tot~s}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    6.823}}}{space 1}{space 1}{ralign 9:{res:{sf:    53.31}}}{space 1}{space 1}{ralign 9:{res:{sf:     3.47}}}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    4.451}}}{space 1}{space 1}{ralign 9:{res:{sf:    37.13}}}{space 1}{space 1}{ralign 9:{res:{sf:     2.78}}}{space 1}
{space 0}{space 0}{ralign 12:DebtServic~P}{space 1}{c |}{space 1}{ralign 9:{res:{sf:   .02104}}}{space 1}{space 1}{ralign 9:{res:{sf:  .001068}}}{space 1}{space 1}{ralign 9:{res:{sf:    7.191}}}{space 1}{c |}{space 1}{ralign 9:{res:{sf:   .02404}}}{space 1}{space 1}{ralign 9:{res:{sf: .0004001}}}{space 1}{space 1}{ralign 9:{res:{sf:    1.945}}}{space 1}
{space 0}{space 0}{ralign 12:lvaw_garriga}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    .6521}}}{space 1}{space 1}{ralign 9:{res:{sf:   .03084}}}{space 1}{space 1}{ralign 9:{res:{sf:   -.4264}}}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    .5994}}}{space 1}{space 1}{ralign 9:{res:{sf:   .04387}}}{space 1}{space 1}{ralign 9:{res:{sf:   -.4974}}}{space 1}
{space 0}{space 0}{ralign 12:Taxes_PerGDP}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    .1316}}}{space 1}{space 1}{ralign 9:{res:{sf:  .002629}}}{space 1}{space 1}{ralign 9:{res:{sf:     .778}}}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    .1775}}}{space 1}{space 1}{ralign 9:{res:{sf:  .005425}}}{space 1}{space 1}{ralign 9:{res:{sf:    2.063}}}{space 1}
{space 0}{space 0}{ralign 12:v2x_polyar~y}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    .5508}}}{space 1}{space 1}{ralign 9:{res:{sf:  .009951}}}{space 1}{space 1}{ralign 9:{res:{sf:    .7947}}}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    .6437}}}{space 1}{space 1}{ralign 9:{res:{sf:   .01247}}}{space 1}{space 1}{ralign 9:{res:{sf:   -.1149}}}{space 1}
{space 0}{space 0}{ralign 12:Inflation_~r}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    8.948}}}{space 1}{space 1}{ralign 9:{res:{sf:    115.9}}}{space 1}{space 1}{ralign 9:{res:{sf:    4.333}}}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    6.366}}}{space 1}{space 1}{ralign 9:{res:{sf:    55.13}}}{space 1}{space 1}{ralign 9:{res:{sf:    4.812}}}{space 1}
{space 0}{space 0}{ralign 12:LeftGov}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    .3379}}}{space 1}{space 1}{ralign 9:{res:{sf:    .2242}}}{space 1}{space 1}{ralign 9:{res:{sf:    .6854}}}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    .2761}}}{space 1}{space 1}{ralign 9:{res:{sf:    .2003}}}{space 1}{space 1}{ralign 9:{res:{sf:    1.002}}}{space 1}
{space 0}{space 0}{ralign 12:PegBandMan~n}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    .1986}}}{space 1}{space 1}{ralign 9:{res:{sf:    .1595}}}{space 1}{space 1}{ralign 9:{res:{sf:    1.511}}}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    .2599}}}{space 1}{space 1}{ralign 9:{res:{sf:    .1928}}}{space 1}{space 1}{ralign 9:{res:{sf:    1.095}}}{space 1}


{res}After:  {txt}ebw1 as the weighting variable
{res}
{txt}{space 0}{space 13}{c |}{res}{txt}{space 1}{rcenter 31:Treat}{space 1}{c |}{space 1}{rcenter 31:Control}{space 1}
{space 0}{space 0}{ralign 12:}{space 1}{c |}{space 1}{ralign 9:mean}{space 1}{space 1}{ralign 9:variance}{space 1}{space 1}{ralign 9:skewness}{space 1}{c |}{space 1}{ralign 9:mean}{space 1}{space 1}{ralign 9:variance}{space 1}{space 1}{ralign 9:skewness}{space 1}
{space 0}{hline 13}{c   +}{hline 11}{hline 11}{hline 11}{c   +}{hline 11}{hline 11}{hline 11}
{space 0}{space 0}{ralign 12:GDPpcap}{space 1}{c |}{space 1}{ralign 9:{res:{sf:     2159}}}{space 1}{space 1}{ralign 9:{res:{sf:  6630851}}}{space 1}{space 1}{ralign 9:{res:{sf:    2.607}}}{space 1}{c |}{space 1}{ralign 9:{res:{sf:     2159}}}{space 1}{space 1}{ralign 9:{res:{sf:  6630468}}}{space 1}{space 1}{ralign 9:{res:{sf:    2.607}}}{space 1}
{space 0}{space 0}{ralign 12:GDPgrowth}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    4.265}}}{space 1}{space 1}{ralign 9:{res:{sf:    14.07}}}{space 1}{space 1}{ralign 9:{res:{sf:   -1.224}}}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    4.266}}}{space 1}{space 1}{ralign 9:{res:{sf:    14.07}}}{space 1}{space 1}{ralign 9:{res:{sf:   -1.224}}}{space 1}
{space 0}{space 0}{ralign 12:ny_gdp_tot~s}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    6.823}}}{space 1}{space 1}{ralign 9:{res:{sf:    53.31}}}{space 1}{space 1}{ralign 9:{res:{sf:     3.47}}}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    6.823}}}{space 1}{space 1}{ralign 9:{res:{sf:    65.91}}}{space 1}{space 1}{ralign 9:{res:{sf:    1.544}}}{space 1}
{space 0}{space 0}{ralign 12:DebtServic~P}{space 1}{c |}{space 1}{ralign 9:{res:{sf:   .02104}}}{space 1}{space 1}{ralign 9:{res:{sf:  .001068}}}{space 1}{space 1}{ralign 9:{res:{sf:    7.191}}}{space 1}{c |}{space 1}{ralign 9:{res:{sf:   .02104}}}{space 1}{space 1}{ralign 9:{res:{sf: .0005266}}}{space 1}{space 1}{ralign 9:{res:{sf:     2.14}}}{space 1}
{space 0}{space 0}{ralign 12:lvaw_garriga}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    .6521}}}{space 1}{space 1}{ralign 9:{res:{sf:   .03084}}}{space 1}{space 1}{ralign 9:{res:{sf:   -.4264}}}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    .6521}}}{space 1}{space 1}{ralign 9:{res:{sf:   .03611}}}{space 1}{space 1}{ralign 9:{res:{sf:   -1.057}}}{space 1}
{space 0}{space 0}{ralign 12:Taxes_PerGDP}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    .1316}}}{space 1}{space 1}{ralign 9:{res:{sf:  .002629}}}{space 1}{space 1}{ralign 9:{res:{sf:     .778}}}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    .1316}}}{space 1}{space 1}{ralign 9:{res:{sf:  .001807}}}{space 1}{space 1}{ralign 9:{res:{sf:    2.947}}}{space 1}
{space 0}{space 0}{ralign 12:v2x_polyar~y}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    .5508}}}{space 1}{space 1}{ralign 9:{res:{sf:  .009951}}}{space 1}{space 1}{ralign 9:{res:{sf:    .7947}}}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    .5508}}}{space 1}{space 1}{ralign 9:{res:{sf:    .0072}}}{space 1}{space 1}{ralign 9:{res:{sf:    .1793}}}{space 1}
{space 0}{space 0}{ralign 12:Inflation_~r}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    8.948}}}{space 1}{space 1}{ralign 9:{res:{sf:    115.9}}}{space 1}{space 1}{ralign 9:{res:{sf:    4.333}}}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    8.948}}}{space 1}{space 1}{ralign 9:{res:{sf:    140.7}}}{space 1}{space 1}{ralign 9:{res:{sf:    3.788}}}{space 1}
{space 0}{space 0}{ralign 12:LeftGov}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    .3379}}}{space 1}{space 1}{ralign 9:{res:{sf:    .2242}}}{space 1}{space 1}{ralign 9:{res:{sf:    .6854}}}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    .3379}}}{space 1}{space 1}{ralign 9:{res:{sf:    .2242}}}{space 1}{space 1}{ralign 9:{res:{sf:    .6855}}}{space 1}
{space 0}{space 0}{ralign 12:PegBandMan~n}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    .1986}}}{space 1}{space 1}{ralign 9:{res:{sf:    .1595}}}{space 1}{space 1}{ralign 9:{res:{sf:    1.511}}}{space 1}{c |}{space 1}{ralign 9:{res:{sf:    .1986}}}{space 1}{space 1}{ralign 9:{res:{sf:    .1596}}}{space 1}{space 1}{ralign 9:{res:{sf:    1.511}}}{space 1}
{res}{txt}
{com}. 
. sort country_num year
{txt}
{com}. by country_num: egen avg_w = mean(ebw1)
{txt}(393 missing values generated)

{com}. 
. svyset [pw=avg_w]

      {txt}pweight:{col 16}{res}avg_w
          {txt}VCE:{col 16}{res}linearized
  {txt}Single unit:{col 16}{res}missing
     {txt}Strata 1:{col 16}<one>
         SU 1:{col 16}<observations>
        FPC 1:{col 16}<zero>
{p2colreset}{...}

{com}. 
. 
. regress deltaReserves_Imports ElectionPeriod ElectionYear  US10YrYields_AnnAvg l.deltaReserves_Imports l.GDPpcap l.GDPgrowth l.ny_gdp_totl_rt_zs l.CurrAcctBal_PerGDP l.ExtDebtStocks_PerGNI l.DebtService_PerGDP l.Inflation_annGDPdeflator l.PegBandManaged_NoUnion l.lvaw_garriga l.Taxes_PerGDP l.BestCRtg l.cyrs l.dyrs l.v2x_polyarchy l.Left i.country_num c.year##c.GlobalReserveLevels [pweight=avg_w], robust
{txt}(sum of wgt is 534.3657974563228)
{p 0 6 2}note: 27.country_num omitted because of collinearity{p_end}
{p 0 6 2}note: 197.country_num omitted because of collinearity{p_end}
{p 0 6 2}note: 215.country_num omitted because of collinearity{p_end}

Linear regression                               Number of obs     = {res}       700
                                                {txt}{help j_robustsingular:F(66, 631) }       =  {res}        .
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.1345
                                                {txt}Root MSE          =    {res} .95923

{txt}{hline 29}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 30}{c |}{col 42}    Robust
{col 1}       deltaReserves_Imports{col 30}{c |}      Coef.{col 42}   Std. Err.{col 54}      t{col 62}   P>|t|{col 70}     [95% Con{col 83}f. Interval]
{hline 29}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 14}ElectionPeriod {c |}{col 30}{res}{space 2}-.0157199{col 42}{space 2} .1392889{col 53}{space 1}   -0.11{col 62}{space 3}0.910{col 70}{space 4}-.2892457{col 83}{space 3} .2578059
{txt}{space 16}ElectionYear {c |}{col 30}{res}{space 2} .0044622{col 42}{space 2} .1878463{col 53}{space 1}    0.02{col 62}{space 3}0.981{col 70}{space 4}-.3644172{col 83}{space 3} .3733417
{txt}{space 9}US10YrYields_AnnAvg {c |}{col 30}{res}{space 2}-.1213476{col 42}{space 2}    .1213{col 53}{space 1}   -1.00{col 62}{space 3}0.318{col 70}{space 4}-.3595481{col 83}{space 3} .1168529
{txt}{space 28} {c |}
{space 7}deltaReserves_Imports {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.1968015{col 42}{space 2} .0575029{col 53}{space 1}   -3.42{col 62}{space 3}0.001{col 70}{space 4}-.3097217{col 83}{space 3}-.0838814
{txt}{space 28} {c |}
{space 21}GDPpcap {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0000379{col 42}{space 2} .0000996{col 53}{space 1}    0.38{col 62}{space 3}0.704{col 70}{space 4}-.0001577{col 83}{space 3} .0002336
{txt}{space 28} {c |}
{space 19}GDPgrowth {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0044644{col 42}{space 2} .0154645{col 53}{space 1}   -0.29{col 62}{space 3}0.773{col 70}{space 4}-.0348325{col 83}{space 3} .0259038
{txt}{space 28} {c |}
{space 11}ny_gdp_totl_rt_zs {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0034412{col 42}{space 2} .0207013{col 53}{space 1}   -0.17{col 62}{space 3}0.868{col 70}{space 4} -.044093{col 83}{space 3} .0372105
{txt}{space 28} {c |}
{space 10}CurrAcctBal_PerGDP {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0021837{col 42}{space 2}  .007657{col 53}{space 1}   -0.29{col 62}{space 3}0.776{col 70}{space 4}-.0172199{col 83}{space 3} .0128525
{txt}{space 28} {c |}
{space 8}ExtDebtStocks_PerGNI {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0020089{col 42}{space 2} .0014006{col 53}{space 1}   -1.43{col 62}{space 3}0.152{col 70}{space 4}-.0047593{col 83}{space 3} .0007415
{txt}{space 28} {c |}
{space 10}DebtService_PerGDP {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0067186{col 42}{space 2} 1.363493{col 53}{space 1}   -0.00{col 62}{space 3}0.996{col 70}{space 4}-2.684251{col 83}{space 3} 2.670814
{txt}{space 28} {c |}
{space 4}Inflation_annGDPdeflator {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0101311{col 42}{space 2} .0072275{col 53}{space 1}    1.40{col 62}{space 3}0.161{col 70}{space 4}-.0040618{col 83}{space 3}  .024324
{txt}{space 28} {c |}
{space 6}PegBandManaged_NoUnion {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .3414366{col 42}{space 2} .1689588{col 53}{space 1}    2.02{col 62}{space 3}0.044{col 70}{space 4} .0096471{col 83}{space 3} .6732262
{txt}{space 28} {c |}
{space 16}lvaw_garriga {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} -.490808{col 42}{space 2} .7452754{col 53}{space 1}   -0.66{col 62}{space 3}0.510{col 70}{space 4}-1.954328{col 83}{space 3} .9727121
{txt}{space 28} {c |}
{space 16}Taxes_PerGDP {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} 3.167211{col 42}{space 2} 2.290449{col 53}{space 1}    1.38{col 62}{space 3}0.167{col 70}{space 4}-1.330614{col 83}{space 3} 7.665037
{txt}{space 28} {c |}
{space 20}BestCRtg {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0749001{col 42}{space 2} .0382492{col 53}{space 1}    1.96{col 62}{space 3}0.051{col 70}{space 4}-.0002111{col 83}{space 3} .1500113
{txt}{space 28} {c |}
{space 24}cyrs {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0054919{col 42}{space 2} .0155374{col 53}{space 1}   -0.35{col 62}{space 3}0.724{col 70}{space 4}-.0360032{col 83}{space 3} .0250193
{txt}{space 28} {c |}
{space 24}dyrs {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0301847{col 42}{space 2} .0196919{col 53}{space 1}   -1.53{col 62}{space 3}0.126{col 70}{space 4}-.0688542{col 83}{space 3} .0084848
{txt}{space 28} {c |}
{space 15}v2x_polyarchy {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} -.158397{col 42}{space 2} 1.288126{col 53}{space 1}   -0.12{col 62}{space 3}0.902{col 70}{space 4}-2.687929{col 83}{space 3} 2.371135
{txt}{space 28} {c |}
{space 21}LeftGov {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0916952{col 42}{space 2} .1449442{col 53}{space 1}   -0.63{col 62}{space 3}0.527{col 70}{space 4}-.3763265{col 83}{space 3} .1929361
{txt}{space 28} {c |}
{space 17}country_num {c |}
{space 24}ARG  {c |}{col 30}{res}{space 2}-.7050837{col 42}{space 2} .9564619{col 53}{space 1}   -0.74{col 62}{space 3}0.461{col 70}{space 4}-2.583317{col 83}{space 3}  1.17315
{txt}{space 24}ARM  {c |}{col 30}{res}{space 2}-.1230055{col 42}{space 2} .3590476{col 53}{space 1}   -0.34{col 62}{space 3}0.732{col 70}{space 4}-.8280783{col 83}{space 3} .5820674
{txt}{space 24}BGD  {c |}{col 30}{res}{space 2} .0449334{col 42}{space 2} .5803923{col 53}{space 1}    0.08{col 62}{space 3}0.938{col 70}{space 4}-1.094801{col 83}{space 3} 1.184668
{txt}{space 24}BGR  {c |}{col 30}{res}{space 2} .4911367{col 42}{space 2} .4828705{col 53}{space 1}    1.02{col 62}{space 3}0.309{col 70}{space 4}-.4570909{col 83}{space 3} 1.439364
{txt}{space 24}BIH  {c |}{col 30}{res}{space 2} .2998109{col 42}{space 2} .3698254{col 53}{space 1}    0.81{col 62}{space 3}0.418{col 70}{space 4}-.4264266{col 83}{space 3} 1.026048
{txt}{space 24}BRA  {c |}{col 30}{res}{space 2}        0{col 42}{txt}  (omitted)
{space 24}BWA  {c |}{col 30}{res}{space 2}-.5499624{col 42}{space 2}  .871489{col 53}{space 1}   -0.63{col 62}{space 3}0.528{col 70}{space 4}-2.261332{col 83}{space 3} 1.161407
{txt}{space 24}DOM  {c |}{col 30}{res}{space 2} .2139044{col 42}{space 2} .3811978{col 53}{space 1}    0.56{col 62}{space 3}0.575{col 70}{space 4}-.5346654{col 83}{space 3} .9624742
{txt}{space 24}ECU  {c |}{col 30}{res}{space 2}-.0249838{col 42}{space 2}  .437631{col 53}{space 1}   -0.06{col 62}{space 3}0.954{col 70}{space 4}-.8843732{col 83}{space 3} .8344056
{txt}{space 24}GEO  {c |}{col 30}{res}{space 2} .1759147{col 42}{space 2} .3138641{col 53}{space 1}    0.56{col 62}{space 3}0.575{col 70}{space 4}-.4404298{col 83}{space 3} .7922592
{txt}{space 24}GHA  {c |}{col 30}{res}{space 2} .0379838{col 42}{space 2} .6263611{col 53}{space 1}    0.06{col 62}{space 3}0.952{col 70}{space 4}-1.192021{col 83}{space 3} 1.267988
{txt}{space 24}GMB  {c |}{col 30}{res}{space 2} .8363447{col 42}{space 2} .6780357{col 53}{space 1}    1.23{col 62}{space 3}0.218{col 70}{space 4}-.4951347{col 83}{space 3} 2.167824
{txt}{space 24}GTM  {c |}{col 30}{res}{space 2} 1.022245{col 42}{space 2} .3851452{col 53}{space 1}    2.65{col 62}{space 3}0.008{col 70}{space 4}  .265924{col 83}{space 3} 1.778567
{txt}{space 24}HND  {c |}{col 30}{res}{space 2}-.2913964{col 42}{space 2} .3288947{col 53}{space 1}   -0.89{col 62}{space 3}0.376{col 70}{space 4}-.9372571{col 83}{space 3} .3544643
{txt}{space 24}HTI  {c |}{col 30}{res}{space 2} .2121552{col 42}{space 2} .6490837{col 53}{space 1}    0.33{col 62}{space 3}0.744{col 70}{space 4} -1.06247{col 83}{space 3} 1.486781
{txt}{space 24}IDN  {c |}{col 30}{res}{space 2} .3150004{col 42}{space 2} .4879417{col 53}{space 1}    0.65{col 62}{space 3}0.519{col 70}{space 4}-.6431856{col 83}{space 3} 1.273186
{txt}{space 24}IND  {c |}{col 30}{res}{space 2}  .722862{col 42}{space 2} .8540703{col 53}{space 1}    0.85{col 62}{space 3}0.398{col 70}{space 4} -.954302{col 83}{space 3} 2.400026
{txt}{space 24}JAM  {c |}{col 30}{res}{space 2} .0542904{col 42}{space 2} .6079129{col 53}{space 1}    0.09{col 62}{space 3}0.929{col 70}{space 4}-1.139487{col 83}{space 3} 1.248068
{txt}{space 24}KEN  {c |}{col 30}{res}{space 2}  .162529{col 42}{space 2} .4130126{col 53}{space 1}    0.39{col 62}{space 3}0.694{col 70}{space 4}-.6485164{col 83}{space 3} .9735745
{txt}{space 24}KGZ  {c |}{col 30}{res}{space 2}-.1359468{col 42}{space 2} .3982275{col 53}{space 1}   -0.34{col 62}{space 3}0.733{col 70}{space 4}-.9179583{col 83}{space 3} .6460647
{txt}{space 24}LBN  {c |}{col 30}{res}{space 2}  1.10888{col 42}{space 2}  .815452{col 53}{space 1}    1.36{col 62}{space 3}0.174{col 70}{space 4}-.4924486{col 83}{space 3} 2.710208
{txt}{space 24}LBR  {c |}{col 30}{res}{space 2} .2929911{col 42}{space 2}  .677605{col 53}{space 1}    0.43{col 62}{space 3}0.666{col 70}{space 4}-1.037643{col 83}{space 3} 1.623625
{txt}{space 24}LKA  {c |}{col 30}{res}{space 2} .2616954{col 42}{space 2} .4540258{col 53}{space 1}    0.58{col 62}{space 3}0.565{col 70}{space 4} -.629889{col 83}{space 3}  1.15328
{txt}{space 24}LSO  {c |}{col 30}{res}{space 2}-.6502225{col 42}{space 2} .7577335{col 53}{space 1}   -0.86{col 62}{space 3}0.391{col 70}{space 4}-2.138207{col 83}{space 3}  .837762
{txt}{space 24}MDA  {c |}{col 30}{res}{space 2}-.0264961{col 42}{space 2} .2890263{col 53}{space 1}   -0.09{col 62}{space 3}0.927{col 70}{space 4}-.5940658{col 83}{space 3} .5410737
{txt}{space 24}MDG  {c |}{col 30}{res}{space 2}-.0983194{col 42}{space 2} .4862164{col 53}{space 1}   -0.20{col 62}{space 3}0.840{col 70}{space 4}-1.053118{col 83}{space 3} .8564787
{txt}{space 24}MNG  {c |}{col 30}{res}{space 2} .1348556{col 42}{space 2} .5723523{col 53}{space 1}    0.24{col 62}{space 3}0.814{col 70}{space 4}-.9890901{col 83}{space 3} 1.258801
{txt}{space 24}MOZ  {c |}{col 30}{res}{space 2} .0297665{col 42}{space 2} .6663255{col 53}{space 1}    0.04{col 62}{space 3}0.964{col 70}{space 4}-1.278717{col 83}{space 3}  1.33825
{txt}{space 24}MRT  {c |}{col 30}{res}{space 2} 1.231573{col 42}{space 2} .5788565{col 53}{space 1}    2.13{col 62}{space 3}0.034{col 70}{space 4} .0948545{col 83}{space 3} 2.368291
{txt}{space 24}MUS  {c |}{col 30}{res}{space 2} .5504962{col 42}{space 2} .7132453{col 53}{space 1}    0.77{col 62}{space 3}0.441{col 70}{space 4}-.8501255{col 83}{space 3} 1.951118
{txt}{space 24}MWI  {c |}{col 30}{res}{space 2}-.5473056{col 42}{space 2} .5340895{col 53}{space 1}   -1.02{col 62}{space 3}0.306{col 70}{space 4}-1.596114{col 83}{space 3} .5015022
{txt}{space 24}NIC  {c |}{col 30}{res}{space 2} .5906054{col 42}{space 2} .4274086{col 53}{space 1}    1.38{col 62}{space 3}0.168{col 70}{space 4}  -.24871{col 83}{space 3} 1.429921
{txt}{space 24}NPL  {c |}{col 30}{res}{space 2}-.0939547{col 42}{space 2}  .792062{col 53}{space 1}   -0.12{col 62}{space 3}0.906{col 70}{space 4}-1.649351{col 83}{space 3} 1.461442
{txt}{space 24}PAK  {c |}{col 30}{res}{space 2} .2138386{col 42}{space 2} .7098768{col 53}{space 1}    0.30{col 62}{space 3}0.763{col 70}{space 4}-1.180168{col 83}{space 3} 1.607845
{txt}{space 24}PAN  {c |}{col 30}{res}{space 2} .5773897{col 42}{space 2} 1.030202{col 53}{space 1}    0.56{col 62}{space 3}0.575{col 70}{space 4}-1.445649{col 83}{space 3} 2.600429
{txt}{space 24}PER  {c |}{col 30}{res}{space 2} .6055664{col 42}{space 2} .6006334{col 53}{space 1}    1.01{col 62}{space 3}0.314{col 70}{space 4}-.5739158{col 83}{space 3} 1.785049
{txt}{space 24}PHL  {c |}{col 30}{res}{space 2} .4455241{col 42}{space 2} .4687597{col 53}{space 1}    0.95{col 62}{space 3}0.342{col 70}{space 4}-.4749938{col 83}{space 3} 1.366042
{txt}{space 24}PNG  {c |}{col 30}{res}{space 2} .2929399{col 42}{space 2} .5655709{col 53}{space 1}    0.52{col 62}{space 3}0.605{col 70}{space 4} -.817689{col 83}{space 3} 1.403569
{txt}{space 24}PRY  {c |}{col 30}{res}{space 2} .2660864{col 42}{space 2} .4744343{col 53}{space 1}    0.56{col 62}{space 3}0.575{col 70}{space 4}-.6655747{col 83}{space 3} 1.197748
{txt}{space 24}ROU  {c |}{col 30}{res}{space 2} .1542273{col 42}{space 2} .5097421{col 53}{space 1}    0.30{col 62}{space 3}0.762{col 70}{space 4}-.8467688{col 83}{space 3} 1.155223
{txt}{space 24}SLE  {c |}{col 30}{res}{space 2} .2324032{col 42}{space 2} .5467869{col 53}{space 1}    0.43{col 62}{space 3}0.671{col 70}{space 4}-.8413389{col 83}{space 3} 1.306145
{txt}{space 24}SLV  {c |}{col 30}{res}{space 2} .4465419{col 42}{space 2} .3450586{col 53}{space 1}    1.29{col 62}{space 3}0.196{col 70}{space 4}-.2310604{col 83}{space 3} 1.124144
{txt}{space 24}THA  {c |}{col 30}{res}{space 2}-.5070446{col 42}{space 2} .6657486{col 53}{space 1}   -0.76{col 62}{space 3}0.447{col 70}{space 4}-1.814395{col 83}{space 3} .8003064
{txt}{space 24}TLS  {c |}{col 30}{res}{space 2} 2.939827{col 42}{space 2} 2.270796{col 53}{space 1}    1.29{col 62}{space 3}0.196{col 70}{space 4}-1.519406{col 83}{space 3} 7.399059
{txt}{space 24}TUN  {c |}{col 30}{res}{space 2}        0{col 42}{txt}  (omitted)
{space 24}TZA  {c |}{col 30}{res}{space 2}-.0288605{col 42}{space 2} .5338139{col 53}{space 1}   -0.05{col 62}{space 3}0.957{col 70}{space 4}-1.077127{col 83}{space 3} 1.019406
{txt}{space 24}UKR  {c |}{col 30}{res}{space 2}-.5007195{col 42}{space 2} .4790439{col 53}{space 1}   -1.05{col 62}{space 3}0.296{col 70}{space 4}-1.441433{col 83}{space 3} .4399936
{txt}{space 24}ZAF  {c |}{col 30}{res}{space 2}        0{col 42}{txt}  (omitted)
{space 24}ZMB  {c |}{col 30}{res}{space 2}-.2685703{col 42}{space 2} .5657522{col 53}{space 1}   -0.47{col 62}{space 3}0.635{col 70}{space 4}-1.379555{col 83}{space 3} .8424147
{txt}{space 28} {c |}
{space 24}year {c |}{col 30}{res}{space 2} .2126997{col 42}{space 2}  .076135{col 53}{space 1}    2.79{col 62}{space 3}0.005{col 70}{space 4}  .063191{col 83}{space 3} .3622083
{txt}{space 9}GlobalReserveLevels {c |}{col 30}{res}{space 2} 3.02e-11{col 42}{space 2} 1.09e-11{col 53}{space 1}    2.78{col 62}{space 3}0.006{col 70}{space 4} 8.85e-12{col 83}{space 3} 5.16e-11
{txt}{space 28} {c |}
c.year#c.GlobalReserveLevels {c |}{col 30}{res}{space 2}-1.51e-14{col 42}{space 2} 5.44e-15{col 53}{space 1}   -2.78{col 62}{space 3}0.006{col 70}{space 4}-2.58e-14{col 83}{space 3}-4.47e-15
{txt}{space 28} {c |}
{space 23}_cons {c |}{col 30}{res}{space 2} -426.149{col 42}{space 2}  152.245{col 53}{space 1}   -2.80{col 62}{space 3}0.005{col 70}{space 4}-725.1172{col 83}{space 3}-127.1808
{txt}{hline 29}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store e1
{txt}
{com}. 
. regress deltaReserves_Imports c.ElectionPeriod##c.US10YrYields_AnnAvg  i.country_num [pweight=avg_w], robust
{txt}(sum of wgt is 701.9782256658114)
{p 0 6 2}note: 27.country_num omitted because of collinearity{p_end}
{p 0 6 2}note: 197.country_num omitted because of collinearity{p_end}
{p 0 6 2}note: 215.country_num omitted because of collinearity{p_end}

Linear regression                               Number of obs     = {res}       904
                                                {txt}F(50, 853)        =  {res}     0.40
                                                {txt}Prob > F          = {res}    0.9999
                                                {txt}R-squared         = {res}    0.0289
                                                {txt}Root MSE          =    {res} 1.2575

{txt}{hline 39}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 40}{c |}{col 52}    Robust
{col 1}                 deltaReserves_Imports{col 40}{c |}      Coef.{col 52}   Std. Err.{col 64}      t{col 72}   P>|t|{col 80}     [95% Con{col 93}f. Interval]
{hline 39}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 24}ElectionPeriod {c |}{col 40}{res}{space 2} .3154818{col 52}{space 2} .3739222{col 63}{space 1}    0.84{col 72}{space 3}0.399{col 80}{space 4}-.4184337{col 93}{space 3} 1.049397
{txt}{space 19}US10YrYields_AnnAvg {c |}{col 40}{res}{space 2} .0113725{col 52}{space 2} .0678319{col 63}{space 1}    0.17{col 72}{space 3}0.867{col 80}{space 4}-.1217645{col 93}{space 3} .1445095
{txt}{space 38} {c |}
c.ElectionPeriod#c.US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.0692554{col 52}{space 2} .0999944{col 63}{space 1}   -0.69{col 72}{space 3}0.489{col 80}{space 4}-.2655193{col 93}{space 3} .1270085
{txt}{space 38} {c |}
{space 27}country_num {c |}
{space 34}ARG  {c |}{col 40}{res}{space 2}-.1047303{col 52}{space 2} .3551939{col 63}{space 1}   -0.29{col 72}{space 3}0.768{col 80}{space 4}-.8018866{col 93}{space 3} .5924261
{txt}{space 34}ARM  {c |}{col 40}{res}{space 2}-.0739912{col 52}{space 2} .3868102{col 63}{space 1}   -0.19{col 72}{space 3}0.848{col 80}{space 4}-.8332025{col 93}{space 3} .6852202
{txt}{space 34}BGD  {c |}{col 40}{res}{space 2}-.0116625{col 52}{space 2} .2941693{col 63}{space 1}   -0.04{col 72}{space 3}0.968{col 80}{space 4}-.5890431{col 93}{space 3} .5657181
{txt}{space 34}BGR  {c |}{col 40}{res}{space 2} .0688356{col 52}{space 2} .3440769{col 63}{space 1}    0.20{col 72}{space 3}0.841{col 80}{space 4}-.6065011{col 93}{space 3} .7441723
{txt}{space 34}BIH  {c |}{col 40}{res}{space 2} .2164079{col 52}{space 2} .3303991{col 63}{space 1}    0.65{col 72}{space 3}0.513{col 80}{space 4}-.4320825{col 93}{space 3} .8648983
{txt}{space 34}BRA  {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}BWA  {c |}{col 40}{res}{space 2}-.8300289{col 52}{space 2} .5602102{col 63}{space 1}   -1.48{col 72}{space 3}0.139{col 80}{space 4}-1.929581{col 93}{space 3} .2695231
{txt}{space 34}DOM  {c |}{col 40}{res}{space 2} .1050708{col 52}{space 2} .2552458{col 63}{space 1}    0.41{col 72}{space 3}0.681{col 80}{space 4}-.3959127{col 93}{space 3} .6060543
{txt}{space 34}ECU  {c |}{col 40}{res}{space 2}-.0840271{col 52}{space 2} .2803556{col 63}{space 1}   -0.30{col 72}{space 3}0.764{col 80}{space 4}-.6342947{col 93}{space 3} .4662406
{txt}{space 34}GEO  {c |}{col 40}{res}{space 2} .0887916{col 52}{space 2}   .27434{col 63}{space 1}    0.32{col 72}{space 3}0.746{col 80}{space 4}-.4496689{col 93}{space 3} .6272522
{txt}{space 34}GHA  {c |}{col 40}{res}{space 2} .0750926{col 52}{space 2} .2710436{col 63}{space 1}    0.28{col 72}{space 3}0.782{col 80}{space 4} -.456898{col 93}{space 3} .6070832
{txt}{space 34}GMB  {c |}{col 40}{res}{space 2} .8548654{col 52}{space 2} .7854035{col 63}{space 1}    1.09{col 72}{space 3}0.277{col 80}{space 4}-.6866844{col 93}{space 3} 2.396415
{txt}{space 34}GTM  {c |}{col 40}{res}{space 2} .1460332{col 52}{space 2} .3003769{col 63}{space 1}    0.49{col 72}{space 3}0.627{col 80}{space 4}-.4435314{col 93}{space 3} .7355977
{txt}{space 34}HND  {c |}{col 40}{res}{space 2}  -.15176{col 52}{space 2} .2593474{col 63}{space 1}   -0.59{col 72}{space 3}0.559{col 80}{space 4}-.6607939{col 93}{space 3} .3572738
{txt}{space 34}HTI  {c |}{col 40}{res}{space 2} .2892127{col 52}{space 2} .4291128{col 63}{space 1}    0.67{col 72}{space 3}0.501{col 80}{space 4}-.5530279{col 93}{space 3} 1.131453
{txt}{space 34}IDN  {c |}{col 40}{res}{space 2}-.0529935{col 52}{space 2} .3308013{col 63}{space 1}   -0.16{col 72}{space 3}0.873{col 80}{space 4}-.7022735{col 93}{space 3} .5962865
{txt}{space 34}IND  {c |}{col 40}{res}{space 2} .0762032{col 52}{space 2} .4425367{col 63}{space 1}    0.17{col 72}{space 3}0.863{col 80}{space 4}-.7923852{col 93}{space 3} .9447916
{txt}{space 34}JAM  {c |}{col 40}{res}{space 2} .1501396{col 52}{space 2} .3076848{col 63}{space 1}    0.49{col 72}{space 3}0.626{col 80}{space 4}-.4537684{col 93}{space 3} .7540476
{txt}{space 34}KEN  {c |}{col 40}{res}{space 2} .0103793{col 52}{space 2} .2616149{col 63}{space 1}    0.04{col 72}{space 3}0.968{col 80}{space 4}-.5031051{col 93}{space 3} .5238638
{txt}{space 34}KGZ  {c |}{col 40}{res}{space 2} -.076545{col 52}{space 2} .2851659{col 63}{space 1}   -0.27{col 72}{space 3}0.788{col 80}{space 4}-.6362541{col 93}{space 3}  .483164
{txt}{space 34}LBN  {c |}{col 40}{res}{space 2} .7111098{col 52}{space 2} .8935711{col 63}{space 1}    0.80{col 72}{space 3}0.426{col 80}{space 4}-1.042746{col 93}{space 3} 2.464966
{txt}{space 34}LBR  {c |}{col 40}{res}{space 2} .1813742{col 52}{space 2} .3080718{col 63}{space 1}    0.59{col 72}{space 3}0.556{col 80}{space 4}-.4232935{col 93}{space 3} .7860418
{txt}{space 34}LKA  {c |}{col 40}{res}{space 2}-.1338467{col 52}{space 2} .2951877{col 63}{space 1}   -0.45{col 72}{space 3}0.650{col 80}{space 4}-.7132261{col 93}{space 3} .4455327
{txt}{space 34}LSO  {c |}{col 40}{res}{space 2} .0021515{col 52}{space 2} .3845738{col 63}{space 1}    0.01{col 72}{space 3}0.996{col 80}{space 4}-.7526702{col 93}{space 3} .7569733
{txt}{space 34}MDA  {c |}{col 40}{res}{space 2} .0623659{col 52}{space 2} .2684379{col 63}{space 1}    0.23{col 72}{space 3}0.816{col 80}{space 4}-.4645103{col 93}{space 3}  .589242
{txt}{space 34}MDG  {c |}{col 40}{res}{space 2} .1126788{col 52}{space 2} .2946055{col 63}{space 1}    0.38{col 72}{space 3}0.702{col 80}{space 4}-.4655578{col 93}{space 3} .6909154
{txt}{space 34}MNG  {c |}{col 40}{res}{space 2}-.0059868{col 52}{space 2} .3928382{col 63}{space 1}   -0.02{col 72}{space 3}0.988{col 80}{space 4}-.7770295{col 93}{space 3} .7650559
{txt}{space 34}MOZ  {c |}{col 40}{res}{space 2}-.1046509{col 52}{space 2} .3209505{col 63}{space 1}   -0.33{col 72}{space 3}0.744{col 80}{space 4}-.7345962{col 93}{space 3} .5252944
{txt}{space 34}MRT  {c |}{col 40}{res}{space 2} .3352327{col 52}{space 2} .6188584{col 63}{space 1}    0.54{col 72}{space 3}0.588{col 80}{space 4}-.8794309{col 93}{space 3} 1.549896
{txt}{space 34}MUS  {c |}{col 40}{res}{space 2}  .170224{col 52}{space 2} .3086361{col 63}{space 1}    0.55{col 72}{space 3}0.581{col 80}{space 4}-.4355512{col 93}{space 3} .7759991
{txt}{space 34}MWI  {c |}{col 40}{res}{space 2}-.0983889{col 52}{space 2}  .250674{col 63}{space 1}   -0.39{col 72}{space 3}0.695{col 80}{space 4}-.5903989{col 93}{space 3} .3936212
{txt}{space 34}NGA  {c |}{col 40}{res}{space 2}-.3930937{col 52}{space 2}   .49775{col 63}{space 1}   -0.79{col 72}{space 3}0.430{col 80}{space 4}-1.370052{col 93}{space 3} .5838647
{txt}{space 34}NIC  {c |}{col 40}{res}{space 2} .0514427{col 52}{space 2}  .278871{col 63}{space 1}    0.18{col 72}{space 3}0.854{col 80}{space 4}-.4959111{col 93}{space 3} .5987964
{txt}{space 34}NPL  {c |}{col 40}{res}{space 2}-.1805207{col 52}{space 2} .7743646{col 63}{space 1}   -0.23{col 72}{space 3}0.816{col 80}{space 4}-1.700404{col 93}{space 3} 1.339363
{txt}{space 34}PAK  {c |}{col 40}{res}{space 2} .0979307{col 52}{space 2} .4997078{col 63}{space 1}    0.20{col 72}{space 3}0.845{col 80}{space 4}-.8828702{col 93}{space 3} 1.078732
{txt}{space 34}PAN  {c |}{col 40}{res}{space 2} .0295354{col 52}{space 2} .3148154{col 63}{space 1}    0.09{col 72}{space 3}0.925{col 80}{space 4}-.5883681{col 93}{space 3} .6474389
{txt}{space 34}PER  {c |}{col 40}{res}{space 2} .4143962{col 52}{space 2} .4258706{col 63}{space 1}    0.97{col 72}{space 3}0.331{col 80}{space 4}-.4214808{col 93}{space 3} 1.250273
{txt}{space 34}PHL  {c |}{col 40}{res}{space 2} .0809461{col 52}{space 2} .3972729{col 63}{space 1}    0.20{col 72}{space 3}0.839{col 80}{space 4}-.6988008{col 93}{space 3}  .860693
{txt}{space 34}PNG  {c |}{col 40}{res}{space 2} .1690858{col 52}{space 2} .3084399{col 63}{space 1}    0.55{col 72}{space 3}0.584{col 80}{space 4}-.4363043{col 93}{space 3} .7744759
{txt}{space 34}PRY  {c |}{col 40}{res}{space 2} .1267814{col 52}{space 2} .3112484{col 63}{space 1}    0.41{col 72}{space 3}0.684{col 80}{space 4}-.4841211{col 93}{space 3} .7376839
{txt}{space 34}ROU  {c |}{col 40}{res}{space 2} .0552399{col 52}{space 2} .3208895{col 63}{space 1}    0.17{col 72}{space 3}0.863{col 80}{space 4}-.5745855{col 93}{space 3} .6850654
{txt}{space 34}SLE  {c |}{col 40}{res}{space 2} .1403424{col 52}{space 2} .3547984{col 63}{space 1}    0.40{col 72}{space 3}0.693{col 80}{space 4}-.5560378{col 93}{space 3} .8367225
{txt}{space 34}SLV  {c |}{col 40}{res}{space 2}-.1392072{col 52}{space 2} .2579339{col 63}{space 1}   -0.54{col 72}{space 3}0.590{col 80}{space 4}-.6454667{col 93}{space 3} .3670522
{txt}{space 34}THA  {c |}{col 40}{res}{space 2}-.1114948{col 52}{space 2} .5117859{col 63}{space 1}   -0.22{col 72}{space 3}0.828{col 80}{space 4}-1.116002{col 93}{space 3} .8930125
{txt}{space 34}TLS  {c |}{col 40}{res}{space 2} .1358785{col 52}{space 2} .5352699{col 63}{space 1}    0.25{col 72}{space 3}0.800{col 80}{space 4}-.9147219{col 93}{space 3} 1.186479
{txt}{space 34}TUN  {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}TZA  {c |}{col 40}{res}{space 2}-.0361089{col 52}{space 2} .3593119{col 63}{space 1}   -0.10{col 72}{space 3}0.920{col 80}{space 4}-.7413481{col 93}{space 3} .6691302
{txt}{space 34}UKR  {c |}{col 40}{res}{space 2}-.0444029{col 52}{space 2}  .361166{col 63}{space 1}   -0.12{col 72}{space 3}0.902{col 80}{space 4}-.7532811{col 93}{space 3} .6644753
{txt}{space 34}ZAF  {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}ZMB  {c |}{col 40}{res}{space 2}  .188478{col 52}{space 2} .3760521{col 63}{space 1}    0.50{col 72}{space 3}0.616{col 80}{space 4}-.5496178{col 93}{space 3} .9265739
{txt}{space 38} {c |}
{space 33}_cons {c |}{col 40}{res}{space 2}-.0562103{col 52}{space 2} .3231453{col 63}{space 1}   -0.17{col 72}{space 3}0.862{col 80}{space 4}-.6904633{col 93}{space 3} .5780427
{txt}{hline 39}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store e2
{txt}
{com}. 
. regress deltaReserves_Imports c.ElectionPeriod##c.US10YrYields_AnnAvg ElectionYear l.deltaReserves_Imports i.country_num c.year##c.GlobalReserveLevels [pweight=avg_w], robust
{txt}(sum of wgt is 634.822859224872)
{p 0 6 2}note: 27.country_num omitted because of collinearity{p_end}
{p 0 6 2}note: 197.country_num omitted because of collinearity{p_end}
{p 0 6 2}note: 215.country_num omitted because of collinearity{p_end}

Linear regression                               Number of obs     = {res}       835
                                                {txt}{help j_robustsingular:F(53, 779) }       =  {res}        .
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.1263
                                                {txt}Root MSE          =    {res} 1.2168

{txt}{hline 39}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 40}{c |}{col 52}    Robust
{col 1}                 deltaReserves_Imports{col 40}{c |}      Coef.{col 52}   Std. Err.{col 64}      t{col 72}   P>|t|{col 80}     [95% Con{col 93}f. Interval]
{hline 39}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 24}ElectionPeriod {c |}{col 40}{res}{space 2} .4188811{col 52}{space 2} .3915493{col 63}{space 1}    1.07{col 72}{space 3}0.285{col 80}{space 4}-.3497357{col 93}{space 3} 1.187498
{txt}{space 19}US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.5396473{col 52}{space 2} .1451857{col 63}{space 1}   -3.72{col 72}{space 3}0.000{col 80}{space 4}-.8246488{col 93}{space 3}-.2546459
{txt}{space 38} {c |}
c.ElectionPeriod#c.US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.1143925{col 52}{space 2} .1166518{col 63}{space 1}   -0.98{col 72}{space 3}0.327{col 80}{space 4}-.3433816{col 93}{space 3} .1145967
{txt}{space 38} {c |}
{space 26}ElectionYear {c |}{col 40}{res}{space 2}-.0222683{col 52}{space 2} .1980528{col 63}{space 1}   -0.11{col 72}{space 3}0.911{col 80}{space 4}-.4110487{col 93}{space 3} .3665121
{txt}{space 38} {c |}
{space 17}deltaReserves_Imports {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.2279904{col 52}{space 2} .0746853{col 63}{space 1}   -3.05{col 72}{space 3}0.002{col 80}{space 4}-.3745987{col 93}{space 3} -.081382
{txt}{space 38} {c |}
{space 27}country_num {c |}
{space 34}ARG  {c |}{col 40}{res}{space 2}-.1034659{col 52}{space 2} .3410615{col 63}{space 1}   -0.30{col 72}{space 3}0.762{col 80}{space 4}-.7729744{col 93}{space 3} .5660426
{txt}{space 34}ARM  {c |}{col 40}{res}{space 2}  .254327{col 52}{space 2} .4006691{col 63}{space 1}    0.63{col 72}{space 3}0.526{col 80}{space 4} -.532192{col 93}{space 3} 1.040846
{txt}{space 34}BGD  {c |}{col 40}{res}{space 2}-.0751802{col 52}{space 2} .2974553{col 63}{space 1}   -0.25{col 72}{space 3}0.801{col 80}{space 4}-.6590892{col 93}{space 3} .5087288
{txt}{space 34}BGR  {c |}{col 40}{res}{space 2} .1054426{col 52}{space 2}  .315583{col 63}{space 1}    0.33{col 72}{space 3}0.738{col 80}{space 4}-.5140512{col 93}{space 3} .7249364
{txt}{space 34}BIH  {c |}{col 40}{res}{space 2} .2768474{col 52}{space 2} .3144606{col 63}{space 1}    0.88{col 72}{space 3}0.379{col 80}{space 4}-.3404432{col 93}{space 3} .8941379
{txt}{space 34}BRA  {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}BWA  {c |}{col 40}{res}{space 2}-1.100658{col 52}{space 2} .6178873{col 63}{space 1}   -1.78{col 72}{space 3}0.075{col 80}{space 4} -2.31358{col 93}{space 3}  .112263
{txt}{space 34}DOM  {c |}{col 40}{res}{space 2} .1371053{col 52}{space 2} .2448425{col 63}{space 1}    0.56{col 72}{space 3}0.576{col 80}{space 4}-.3435239{col 93}{space 3} .6177345
{txt}{space 34}ECU  {c |}{col 40}{res}{space 2}-.0249004{col 52}{space 2} .2573169{col 63}{space 1}   -0.10{col 72}{space 3}0.923{col 80}{space 4}-.5300171{col 93}{space 3} .4802162
{txt}{space 34}GEO  {c |}{col 40}{res}{space 2} .1478741{col 52}{space 2} .2543257{col 63}{space 1}    0.58{col 72}{space 3}0.561{col 80}{space 4}-.3513708{col 93}{space 3} .6471191
{txt}{space 34}GHA  {c |}{col 40}{res}{space 2}  .072046{col 52}{space 2} .2614876{col 63}{space 1}    0.28{col 72}{space 3}0.783{col 80}{space 4}-.4412578{col 93}{space 3} .5853498
{txt}{space 34}GMB  {c |}{col 40}{res}{space 2} 1.377204{col 52}{space 2} .8058501{col 63}{space 1}    1.71{col 72}{space 3}0.088{col 80}{space 4}-.2046911{col 93}{space 3} 2.959099
{txt}{space 34}GTM  {c |}{col 40}{res}{space 2} .1677889{col 52}{space 2} .2874055{col 63}{space 1}    0.58{col 72}{space 3}0.560{col 80}{space 4}-.3963921{col 93}{space 3}   .73197
{txt}{space 34}HND  {c |}{col 40}{res}{space 2}-.2405282{col 52}{space 2} .2607412{col 63}{space 1}   -0.92{col 72}{space 3}0.357{col 80}{space 4}-.7523669{col 93}{space 3} .2713104
{txt}{space 34}HTI  {c |}{col 40}{res}{space 2} .4795639{col 52}{space 2} .5049261{col 63}{space 1}    0.95{col 72}{space 3}0.343{col 80}{space 4}-.5116131{col 93}{space 3} 1.470741
{txt}{space 34}IDN  {c |}{col 40}{res}{space 2} -.025287{col 52}{space 2} .3198928{col 63}{space 1}   -0.08{col 72}{space 3}0.937{col 80}{space 4}-.6532409{col 93}{space 3}  .602667
{txt}{space 34}IND  {c |}{col 40}{res}{space 2} .0558126{col 52}{space 2} .4511248{col 63}{space 1}    0.12{col 72}{space 3}0.902{col 80}{space 4}-.8297517{col 93}{space 3}  .941377
{txt}{space 34}JAM  {c |}{col 40}{res}{space 2} .1539529{col 52}{space 2}  .299834{col 63}{space 1}    0.51{col 72}{space 3}0.608{col 80}{space 4}-.4346255{col 93}{space 3} .7425312
{txt}{space 34}KEN  {c |}{col 40}{res}{space 2} .0383732{col 52}{space 2} .2597456{col 63}{space 1}    0.15{col 72}{space 3}0.883{col 80}{space 4}-.4715111{col 93}{space 3} .5482575
{txt}{space 34}KGZ  {c |}{col 40}{res}{space 2} .0802215{col 52}{space 2} .2430112{col 63}{space 1}    0.33{col 72}{space 3}0.741{col 80}{space 4}-.3968129{col 93}{space 3} .5572559
{txt}{space 34}LBN  {c |}{col 40}{res}{space 2} 1.012901{col 52}{space 2} .8580333{col 63}{space 1}    1.18{col 72}{space 3}0.238{col 80}{space 4}-.6714306{col 93}{space 3} 2.697232
{txt}{space 34}LBR  {c |}{col 40}{res}{space 2} .3046084{col 52}{space 2} .2865872{col 63}{space 1}    1.06{col 72}{space 3}0.288{col 80}{space 4}-.2579662{col 93}{space 3}  .867183
{txt}{space 34}LKA  {c |}{col 40}{res}{space 2}-.1717272{col 52}{space 2} .2990625{col 63}{space 1}   -0.57{col 72}{space 3}0.566{col 80}{space 4} -.758791{col 93}{space 3} .4153366
{txt}{space 34}LSO  {c |}{col 40}{res}{space 2}-.0626113{col 52}{space 2} .4188117{col 63}{space 1}   -0.15{col 72}{space 3}0.881{col 80}{space 4}-.8847445{col 93}{space 3} .7595218
{txt}{space 34}MDA  {c |}{col 40}{res}{space 2}  .075045{col 52}{space 2} .2485928{col 63}{space 1}    0.30{col 72}{space 3}0.763{col 80}{space 4}-.4129461{col 93}{space 3} .5630361
{txt}{space 34}MDG  {c |}{col 40}{res}{space 2} .1146592{col 52}{space 2} .2909383{col 63}{space 1}    0.39{col 72}{space 3}0.694{col 80}{space 4}-.4564568{col 93}{space 3} .6857752
{txt}{space 34}MNG  {c |}{col 40}{res}{space 2}-.0302948{col 52}{space 2} .3823116{col 63}{space 1}   -0.08{col 72}{space 3}0.937{col 80}{space 4}-.7807779{col 93}{space 3} .7201882
{txt}{space 34}MOZ  {c |}{col 40}{res}{space 2}-.0915333{col 52}{space 2} .3454117{col 63}{space 1}   -0.26{col 72}{space 3}0.791{col 80}{space 4}-.7695813{col 93}{space 3} .5865146
{txt}{space 34}MRT  {c |}{col 40}{res}{space 2} .7421939{col 52}{space 2} .4032712{col 63}{space 1}    1.84{col 72}{space 3}0.066{col 80}{space 4} -.049433{col 93}{space 3} 1.533821
{txt}{space 34}MUS  {c |}{col 40}{res}{space 2} .1644165{col 52}{space 2}  .293309{col 63}{space 1}    0.56{col 72}{space 3}0.575{col 80}{space 4}-.4113531{col 93}{space 3} .7401861
{txt}{space 34}MWI  {c |}{col 40}{res}{space 2}-.1971305{col 52}{space 2} .2643168{col 63}{space 1}   -0.75{col 72}{space 3}0.456{col 80}{space 4} -.715988{col 93}{space 3}  .321727
{txt}{space 34}NGA  {c |}{col 40}{res}{space 2}-.3130281{col 52}{space 2} .4609644{col 63}{space 1}   -0.68{col 72}{space 3}0.497{col 80}{space 4}-1.217908{col 93}{space 3} .5918514
{txt}{space 34}NIC  {c |}{col 40}{res}{space 2}-.0114749{col 52}{space 2} .2655604{col 63}{space 1}   -0.04{col 72}{space 3}0.966{col 80}{space 4}-.5327737{col 93}{space 3} .5098239
{txt}{space 34}NPL  {c |}{col 40}{res}{space 2}-.2000534{col 52}{space 2} .8135775{col 63}{space 1}   -0.25{col 72}{space 3}0.806{col 80}{space 4}-1.797117{col 93}{space 3} 1.397011
{txt}{space 34}PAK  {c |}{col 40}{res}{space 2}-.0853156{col 52}{space 2} .5041988{col 63}{space 1}   -0.17{col 72}{space 3}0.866{col 80}{space 4}-1.075065{col 93}{space 3} .9044336
{txt}{space 34}PAN  {c |}{col 40}{res}{space 2} .0484165{col 52}{space 2}  .300577{col 63}{space 1}    0.16{col 72}{space 3}0.872{col 80}{space 4}-.5416203{col 93}{space 3} .6384533
{txt}{space 34}PER  {c |}{col 40}{res}{space 2} .3848197{col 52}{space 2} .4286682{col 63}{space 1}    0.90{col 72}{space 3}0.370{col 80}{space 4} -.456662{col 93}{space 3} 1.226301
{txt}{space 34}PHL  {c |}{col 40}{res}{space 2} .1341659{col 52}{space 2} .4020522{col 63}{space 1}    0.33{col 72}{space 3}0.739{col 80}{space 4}-.6550682{col 93}{space 3}    .9234
{txt}{space 34}PNG  {c |}{col 40}{res}{space 2} .1584967{col 52}{space 2} .2989894{col 63}{space 1}    0.53{col 72}{space 3}0.596{col 80}{space 4}-.4284238{col 93}{space 3} .7454171
{txt}{space 34}PRY  {c |}{col 40}{res}{space 2} .2062807{col 52}{space 2} .2840806{col 63}{space 1}    0.73{col 72}{space 3}0.468{col 80}{space 4}-.3513735{col 93}{space 3}  .763935
{txt}{space 34}ROU  {c |}{col 40}{res}{space 2} .0437155{col 52}{space 2} .3012339{col 63}{space 1}    0.15{col 72}{space 3}0.885{col 80}{space 4}-.5476109{col 93}{space 3} .6350418
{txt}{space 34}SLE  {c |}{col 40}{res}{space 2} .2411199{col 52}{space 2} .3361018{col 63}{space 1}    0.72{col 72}{space 3}0.473{col 80}{space 4}-.4186526{col 93}{space 3} .9008924
{txt}{space 34}SLV  {c |}{col 40}{res}{space 2}-.1704259{col 52}{space 2} .2467028{col 63}{space 1}   -0.69{col 72}{space 3}0.490{col 80}{space 4}-.6547069{col 93}{space 3} .3138551
{txt}{space 34}THA  {c |}{col 40}{res}{space 2}-.6105749{col 52}{space 2} .2803122{col 63}{space 1}   -2.18{col 72}{space 3}0.030{col 80}{space 4}-1.160832{col 93}{space 3}-.0603181
{txt}{space 34}TLS  {c |}{col 40}{res}{space 2} .0793368{col 52}{space 2} .5284314{col 63}{space 1}    0.15{col 72}{space 3}0.881{col 80}{space 4}-.9579813{col 93}{space 3} 1.116655
{txt}{space 34}TUN  {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}TZA  {c |}{col 40}{res}{space 2}-.2086906{col 52}{space 2} .3602298{col 63}{space 1}   -0.58{col 72}{space 3}0.563{col 80}{space 4}-.9158267{col 93}{space 3} .4984454
{txt}{space 34}UKR  {c |}{col 40}{res}{space 2}-.1289122{col 52}{space 2} .3446286{col 63}{space 1}   -0.37{col 72}{space 3}0.708{col 80}{space 4} -.805423{col 93}{space 3} .5475986
{txt}{space 34}ZAF  {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}ZMB  {c |}{col 40}{res}{space 2} .1099656{col 52}{space 2} .3597621{col 63}{space 1}    0.31{col 72}{space 3}0.760{col 80}{space 4}-.5962524{col 93}{space 3} .8161836
{txt}{space 38} {c |}
{space 34}year {c |}{col 40}{res}{space 2} .1254238{col 52}{space 2} .0843935{col 63}{space 1}    1.49{col 72}{space 3}0.138{col 80}{space 4}-.0402419{col 93}{space 3} .2910894
{txt}{space 19}GlobalReserveLevels {c |}{col 40}{res}{space 2} 1.92e-11{col 52}{space 2} 1.18e-11{col 63}{space 1}    1.64{col 72}{space 3}0.102{col 80}{space 4}-3.84e-12{col 93}{space 3} 4.23e-11
{txt}{space 38} {c |}
{space 10}c.year#c.GlobalReserveLevels {c |}{col 40}{res}{space 2}-9.72e-15{col 52}{space 2} 5.88e-15{col 63}{space 1}   -1.65{col 72}{space 3}0.099{col 80}{space 4}-2.13e-14{col 93}{space 3} 1.83e-15
{txt}{space 38} {c |}
{space 33}_cons {c |}{col 40}{res}{space 2}-247.7839{col 52}{space 2} 168.8054{col 63}{space 1}   -1.47{col 72}{space 3}0.143{col 80}{space 4}-579.1512{col 93}{space 3} 83.58345
{txt}{hline 39}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store e3
{txt}
{com}. 
. regress deltaReserves_Imports c.ElectionPeriod##c.US10YrYields_AnnAvg ElectionYear l.deltaReserves_Imports l.GDPpcap l.GDPgrowth l.ny_gdp_totl_rt_zs l.CurrAcctBal_PerGDP l.ExtDebtStocks_PerGNI l.DebtService_PerGDP l.Inflation_annGDPdeflator l.PegBandManaged_NoUnion l.lvaw_garriga l.Taxes_PerGDP l.BestCRtg l.cyrs l.dyrs l.v2x_polyarchy l.Left i.country_num c.year##c.GlobalReserveLevels [pweight=avg_w], robust
{txt}(sum of wgt is 534.3657974563228)
{p 0 6 2}note: 27.country_num omitted because of collinearity{p_end}
{p 0 6 2}note: 197.country_num omitted because of collinearity{p_end}
{p 0 6 2}note: 215.country_num omitted because of collinearity{p_end}

Linear regression                               Number of obs     = {res}       700
                                                {txt}{help j_robustsingular:F(67, 630) }       =  {res}        .
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.1434
                                                {txt}Root MSE          =    {res} .95504

{txt}{hline 39}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 40}{c |}{col 52}    Robust
{col 1}                 deltaReserves_Imports{col 40}{c |}      Coef.{col 52}   Std. Err.{col 64}      t{col 72}   P>|t|{col 80}     [95% Con{col 93}f. Interval]
{hline 39}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 24}ElectionPeriod {c |}{col 40}{res}{space 2} .5888203{col 52}{space 2} .3267968{col 63}{space 1}    1.80{col 72}{space 3}0.072{col 80}{space 4}-.0529225{col 93}{space 3} 1.230563
{txt}{space 19}US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.0468027{col 52}{space 2} .1176945{col 63}{space 1}   -0.40{col 72}{space 3}0.691{col 80}{space 4}-.2779238{col 93}{space 3} .1843183
{txt}{space 38} {c |}
c.ElectionPeriod#c.US10YrYields_AnnAvg {c |}{col 40}{res}{space 2} -.187834{col 52}{space 2} .0962439{col 63}{space 1}   -1.95{col 72}{space 3}0.051{col 80}{space 4}-.3768317{col 93}{space 3} .0011637
{txt}{space 38} {c |}
{space 26}ElectionYear {c |}{col 40}{res}{space 2} .0163071{col 52}{space 2} .1875685{col 63}{space 1}    0.09{col 72}{space 3}0.931{col 80}{space 4} -.352028{col 93}{space 3} .3846422
{txt}{space 38} {c |}
{space 17}deltaReserves_Imports {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.2032244{col 52}{space 2} .0572259{col 63}{space 1}   -3.55{col 72}{space 3}0.000{col 80}{space 4}-.3156009{col 93}{space 3}-.0908479
{txt}{space 38} {c |}
{space 31}GDPpcap {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0000354{col 52}{space 2} .0001003{col 63}{space 1}    0.35{col 72}{space 3}0.724{col 80}{space 4}-.0001615{col 93}{space 3} .0002323
{txt}{space 38} {c |}
{space 29}GDPgrowth {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0035092{col 52}{space 2} .0151828{col 63}{space 1}   -0.23{col 72}{space 3}0.817{col 80}{space 4}-.0333242{col 93}{space 3} .0263059
{txt}{space 38} {c |}
{space 21}ny_gdp_totl_rt_zs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0041745{col 52}{space 2} .0209232{col 63}{space 1}   -0.20{col 72}{space 3}0.842{col 80}{space 4}-.0452621{col 93}{space 3} .0369131
{txt}{space 38} {c |}
{space 20}CurrAcctBal_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0008886{col 52}{space 2} .0075778{col 63}{space 1}   -0.12{col 72}{space 3}0.907{col 80}{space 4}-.0157695{col 93}{space 3} .0139923
{txt}{space 38} {c |}
{space 18}ExtDebtStocks_PerGNI {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}  -.00199{col 52}{space 2} .0013556{col 63}{space 1}   -1.47{col 72}{space 3}0.143{col 80}{space 4} -.004652{col 93}{space 3} .0006721
{txt}{space 38} {c |}
{space 20}DebtService_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0113661{col 52}{space 2} 1.298699{col 63}{space 1}   -0.01{col 72}{space 3}0.993{col 80}{space 4}-2.561669{col 93}{space 3} 2.538936
{txt}{space 38} {c |}
{space 14}Inflation_annGDPdeflator {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0114714{col 52}{space 2} .0073799{col 63}{space 1}    1.55{col 72}{space 3}0.121{col 80}{space 4}-.0030208{col 93}{space 3} .0259637
{txt}{space 38} {c |}
{space 16}PegBandManaged_NoUnion {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .3329872{col 52}{space 2}  .165695{col 63}{space 1}    2.01{col 72}{space 3}0.045{col 80}{space 4} .0076058{col 93}{space 3} .6583685
{txt}{space 38} {c |}
{space 26}lvaw_garriga {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} -.344985{col 52}{space 2} .7235149{col 63}{space 1}   -0.48{col 72}{space 3}0.634{col 80}{space 4}-1.765778{col 93}{space 3} 1.075808
{txt}{space 38} {c |}
{space 26}Taxes_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} 3.457188{col 52}{space 2} 2.265185{col 63}{space 1}    1.53{col 72}{space 3}0.127{col 80}{space 4}-.9910394{col 93}{space 3} 7.905416
{txt}{space 38} {c |}
{space 30}BestCRtg {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0720888{col 52}{space 2} .0376056{col 63}{space 1}    1.92{col 72}{space 3}0.056{col 80}{space 4}-.0017588{col 93}{space 3} .1459363
{txt}{space 38} {c |}
{space 34}cyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0057992{col 52}{space 2} .0158854{col 63}{space 1}   -0.37{col 72}{space 3}0.715{col 80}{space 4}-.0369939{col 93}{space 3} .0253956
{txt}{space 38} {c |}
{space 34}dyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0298244{col 52}{space 2} .0192545{col 63}{space 1}   -1.55{col 72}{space 3}0.122{col 80}{space 4}-.0676351{col 93}{space 3} .0079863
{txt}{space 38} {c |}
{space 25}v2x_polyarchy {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0844216{col 52}{space 2} 1.271979{col 63}{space 1}    0.07{col 72}{space 3}0.947{col 80}{space 4}-2.413409{col 93}{space 3} 2.582253
{txt}{space 38} {c |}
{space 31}LeftGov {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0925418{col 52}{space 2} .1456583{col 63}{space 1}   -0.64{col 72}{space 3}0.525{col 80}{space 4}-.3785763{col 93}{space 3} .1934927
{txt}{space 38} {c |}
{space 27}country_num {c |}
{space 34}ARG  {c |}{col 40}{res}{space 2}-.7701691{col 52}{space 2}  .966915{col 63}{space 1}   -0.80{col 72}{space 3}0.426{col 80}{space 4}-2.668935{col 93}{space 3} 1.128597
{txt}{space 34}ARM  {c |}{col 40}{res}{space 2}-.1939831{col 52}{space 2} .3598837{col 63}{space 1}   -0.54{col 72}{space 3}0.590{col 80}{space 4}-.9006998{col 93}{space 3} .5127336
{txt}{space 34}BGD  {c |}{col 40}{res}{space 2} .2045131{col 52}{space 2} .5774704{col 63}{space 1}    0.35{col 72}{space 3}0.723{col 80}{space 4}-.9294868{col 93}{space 3} 1.338513
{txt}{space 34}BGR  {c |}{col 40}{res}{space 2} .4297784{col 52}{space 2} .4737606{col 63}{space 1}    0.91{col 72}{space 3}0.365{col 80}{space 4}-.5005626{col 93}{space 3} 1.360119
{txt}{space 34}BIH  {c |}{col 40}{res}{space 2}  .248971{col 52}{space 2} .3628304{col 63}{space 1}    0.69{col 72}{space 3}0.493{col 80}{space 4}-.4635323{col 93}{space 3} .9614743
{txt}{space 34}BRA  {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}BWA  {c |}{col 40}{res}{space 2}-.6226411{col 52}{space 2} .8570264{col 63}{space 1}   -0.73{col 72}{space 3}0.468{col 80}{space 4}-2.305615{col 93}{space 3} 1.060333
{txt}{space 34}DOM  {c |}{col 40}{res}{space 2} .1949879{col 52}{space 2} .3766692{col 63}{space 1}    0.52{col 72}{space 3}0.605{col 80}{space 4}-.5446912{col 93}{space 3}  .934667
{txt}{space 34}ECU  {c |}{col 40}{res}{space 2}-.0009176{col 52}{space 2} .4367975{col 63}{space 1}   -0.00{col 72}{space 3}0.998{col 80}{space 4} -.858673{col 93}{space 3} .8568377
{txt}{space 34}GEO  {c |}{col 40}{res}{space 2} .1458959{col 52}{space 2}  .310456{col 63}{space 1}    0.47{col 72}{space 3}0.639{col 80}{space 4} -.463758{col 93}{space 3} .7555498
{txt}{space 34}GHA  {c |}{col 40}{res}{space 2} .0027672{col 52}{space 2} .6254645{col 63}{space 1}    0.00{col 72}{space 3}0.996{col 80}{space 4} -1.22548{col 93}{space 3} 1.231015
{txt}{space 34}GMB  {c |}{col 40}{res}{space 2} .9594453{col 52}{space 2} .6889384{col 63}{space 1}    1.39{col 72}{space 3}0.164{col 80}{space 4}-.3934483{col 93}{space 3} 2.312339
{txt}{space 34}GTM  {c |}{col 40}{res}{space 2} 1.029667{col 52}{space 2} .3804125{col 63}{space 1}    2.71{col 72}{space 3}0.007{col 80}{space 4} .2826369{col 93}{space 3} 1.776697
{txt}{space 34}HND  {c |}{col 40}{res}{space 2}-.2646697{col 52}{space 2} .3380472{col 63}{space 1}   -0.78{col 72}{space 3}0.434{col 80}{space 4}-.9285054{col 93}{space 3}  .399166
{txt}{space 34}HTI  {c |}{col 40}{res}{space 2} .3378465{col 52}{space 2} .6405226{col 63}{space 1}    0.53{col 72}{space 3}0.598{col 80}{space 4}-.9199713{col 93}{space 3} 1.595664
{txt}{space 34}IDN  {c |}{col 40}{res}{space 2} .2546124{col 52}{space 2}  .481121{col 63}{space 1}    0.53{col 72}{space 3}0.597{col 80}{space 4}-.6901826{col 93}{space 3} 1.199407
{txt}{space 34}IND  {c |}{col 40}{res}{space 2} .7354136{col 52}{space 2}   .84725{col 63}{space 1}    0.87{col 72}{space 3}0.386{col 80}{space 4}-.9283622{col 93}{space 3} 2.399189
{txt}{space 34}JAM  {c |}{col 40}{res}{space 2} .0686539{col 52}{space 2} .6028026{col 63}{space 1}    0.11{col 72}{space 3}0.909{col 80}{space 4}-1.115092{col 93}{space 3} 1.252399
{txt}{space 34}KEN  {c |}{col 40}{res}{space 2} .2191705{col 52}{space 2} .4172747{col 63}{space 1}    0.53{col 72}{space 3}0.600{col 80}{space 4}-.6002471{col 93}{space 3} 1.038588
{txt}{space 34}KGZ  {c |}{col 40}{res}{space 2}-.0613896{col 52}{space 2}    .3952{col 63}{space 1}   -0.16{col 72}{space 3}0.877{col 80}{space 4}-.8374584{col 93}{space 3} .7146791
{txt}{space 34}LBN  {c |}{col 40}{res}{space 2} 1.212161{col 52}{space 2} .7984991{col 63}{space 1}    1.52{col 72}{space 3}0.130{col 80}{space 4}-.3558811{col 93}{space 3} 2.780203
{txt}{space 34}LBR  {c |}{col 40}{res}{space 2}  .355804{col 52}{space 2} .6688936{col 63}{space 1}    0.53{col 72}{space 3}0.595{col 80}{space 4}-.9577269{col 93}{space 3} 1.669335
{txt}{space 34}LKA  {c |}{col 40}{res}{space 2} .3095179{col 52}{space 2}  .446828{col 63}{space 1}    0.69{col 72}{space 3}0.489{col 80}{space 4}-.5679347{col 93}{space 3}  1.18697
{txt}{space 34}LSO  {c |}{col 40}{res}{space 2}-.7028875{col 52}{space 2} .7534032{col 63}{space 1}   -0.93{col 72}{space 3}0.351{col 80}{space 4}-2.182373{col 93}{space 3} .7765978
{txt}{space 34}MDA  {c |}{col 40}{res}{space 2}-.0557947{col 52}{space 2} .2852226{col 63}{space 1}   -0.20{col 72}{space 3}0.845{col 80}{space 4}-.6158967{col 93}{space 3} .5043073
{txt}{space 34}MDG  {c |}{col 40}{res}{space 2} -.028184{col 52}{space 2} .4889995{col 63}{space 1}   -0.06{col 72}{space 3}0.954{col 80}{space 4}-.9884501{col 93}{space 3} .9320822
{txt}{space 34}MNG  {c |}{col 40}{res}{space 2} .1159691{col 52}{space 2} .5713524{col 63}{space 1}    0.20{col 72}{space 3}0.839{col 80}{space 4}-1.006017{col 93}{space 3} 1.237955
{txt}{space 34}MOZ  {c |}{col 40}{res}{space 2} .1573259{col 52}{space 2} .6497529{col 63}{space 1}    0.24{col 72}{space 3}0.809{col 80}{space 4}-1.118618{col 93}{space 3} 1.433269
{txt}{space 34}MRT  {c |}{col 40}{res}{space 2} 1.436207{col 52}{space 2} .5744749{col 63}{space 1}    2.50{col 72}{space 3}0.013{col 80}{space 4} .3080901{col 93}{space 3} 2.564325
{txt}{space 34}MUS  {c |}{col 40}{res}{space 2} .5317777{col 52}{space 2} .6964079{col 63}{space 1}    0.76{col 72}{space 3}0.445{col 80}{space 4}-.8357841{col 93}{space 3} 1.899339
{txt}{space 34}MWI  {c |}{col 40}{res}{space 2}  -.47803{col 52}{space 2} .5316417{col 63}{space 1}   -0.90{col 72}{space 3}0.369{col 80}{space 4}-1.522034{col 93}{space 3} .5659743
{txt}{space 34}NIC  {c |}{col 40}{res}{space 2} .6146088{col 52}{space 2} .4215041{col 63}{space 1}    1.46{col 72}{space 3}0.145{col 80}{space 4}-.2131143{col 93}{space 3} 1.442332
{txt}{space 34}NPL  {c |}{col 40}{res}{space 2}-.1633916{col 52}{space 2} .7885731{col 63}{space 1}   -0.21{col 72}{space 3}0.836{col 80}{space 4}-1.711942{col 93}{space 3} 1.385158
{txt}{space 34}PAK  {c |}{col 40}{res}{space 2}  .305319{col 52}{space 2} .7312566{col 63}{space 1}    0.42{col 72}{space 3}0.676{col 80}{space 4}-1.130676{col 93}{space 3} 1.741314
{txt}{space 34}PAN  {c |}{col 40}{res}{space 2} .6342338{col 52}{space 2} .9988545{col 63}{space 1}    0.63{col 72}{space 3}0.526{col 80}{space 4}-1.327253{col 93}{space 3} 2.595721
{txt}{space 34}PER  {c |}{col 40}{res}{space 2} .5411244{col 52}{space 2} .5925203{col 63}{space 1}    0.91{col 72}{space 3}0.361{col 80}{space 4}-.6224295{col 93}{space 3} 1.704678
{txt}{space 34}PHL  {c |}{col 40}{res}{space 2}  .456441{col 52}{space 2} .4621602{col 63}{space 1}    0.99{col 72}{space 3}0.324{col 80}{space 4}  -.45112{col 93}{space 3} 1.364002
{txt}{space 34}PNG  {c |}{col 40}{res}{space 2} .3430635{col 52}{space 2} .5602885{col 63}{space 1}    0.61{col 72}{space 3}0.541{col 80}{space 4}-.7571956{col 93}{space 3} 1.443323
{txt}{space 34}PRY  {c |}{col 40}{res}{space 2} .2954376{col 52}{space 2} .4683364{col 63}{space 1}    0.63{col 72}{space 3}0.528{col 80}{space 4}-.6242518{col 93}{space 3} 1.215127
{txt}{space 34}ROU  {c |}{col 40}{res}{space 2} .0970089{col 52}{space 2} .5079095{col 63}{space 1}    0.19{col 72}{space 3}0.849{col 80}{space 4}-.9003915{col 93}{space 3} 1.094409
{txt}{space 34}SLE  {c |}{col 40}{res}{space 2}  .273935{col 52}{space 2} .5413321{col 63}{space 1}    0.51{col 72}{space 3}0.613{col 80}{space 4}-.7890986{col 93}{space 3} 1.336969
{txt}{space 34}SLV  {c |}{col 40}{res}{space 2} .4227302{col 52}{space 2} .3443168{col 63}{space 1}    1.23{col 72}{space 3}0.220{col 80}{space 4}-.2534173{col 93}{space 3} 1.098878
{txt}{space 34}THA  {c |}{col 40}{res}{space 2}-.4220916{col 52}{space 2} .6523605{col 63}{space 1}   -0.65{col 72}{space 3}0.518{col 80}{space 4}-1.703156{col 93}{space 3} .8589726
{txt}{space 34}TLS  {c |}{col 40}{res}{space 2} 2.864171{col 52}{space 2}  2.29247{col 63}{space 1}    1.25{col 72}{space 3}0.212{col 80}{space 4}-1.637637{col 93}{space 3} 7.365979
{txt}{space 34}TUN  {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}TZA  {c |}{col 40}{res}{space 2}   .02433{col 52}{space 2} .5250175{col 63}{space 1}    0.05{col 72}{space 3}0.963{col 80}{space 4}-1.006666{col 93}{space 3} 1.055326
{txt}{space 34}UKR  {c |}{col 40}{res}{space 2} -.556565{col 52}{space 2} .4667194{col 63}{space 1}   -1.19{col 72}{space 3}0.234{col 80}{space 4}-1.473079{col 93}{space 3} .3599491
{txt}{space 34}ZAF  {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}ZMB  {c |}{col 40}{res}{space 2}-.1941649{col 52}{space 2} .5613487{col 63}{space 1}   -0.35{col 72}{space 3}0.730{col 80}{space 4}-1.296506{col 93}{space 3} .9081761
{txt}{space 38} {c |}
{space 34}year {c |}{col 40}{res}{space 2} .2185315{col 52}{space 2} .0775077{col 63}{space 1}    2.82{col 72}{space 3}0.005{col 80}{space 4} .0663268{col 93}{space 3} .3707361
{txt}{space 19}GlobalReserveLevels {c |}{col 40}{res}{space 2} 3.13e-11{col 52}{space 2} 1.10e-11{col 63}{space 1}    2.85{col 72}{space 3}0.005{col 80}{space 4} 9.74e-12{col 93}{space 3} 5.29e-11
{txt}{space 38} {c |}
{space 10}c.year#c.GlobalReserveLevels {c |}{col 40}{res}{space 2}-1.57e-14{col 52}{space 2} 5.49e-15{col 63}{space 1}   -2.86{col 72}{space 3}0.004{col 80}{space 4}-2.65e-14{col 93}{space 3}-4.91e-15
{txt}{space 38} {c |}
{space 33}_cons {c |}{col 40}{res}{space 2}-438.3239{col 52}{space 2} 155.0565{col 63}{space 1}   -2.83{col 72}{space 3}0.005{col 80}{space 4}-742.8141{col 93}{space 3}-133.8338
{txt}{hline 39}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store e4
{txt}
{com}. 
. 
. estout e4, cells(b(star fmt(%9.3f)) se(par fmt(%9.3f))) starlevels(* 0.1 ** 0.05 ) ///
> stats(r2 N , fmt(%9.2f %9.0f) labels("R2" ))  style(tex) ///
> legend label collabels(none)  ///
> varlabels(_cons Constant  "c.ElectionPeriod#c.US10YrYields_AnnAvg" "Election*USrates" "c.year#c.GlobalReserveLevels000" "Year*GlobalReserves") order(ElectionPeriod US10YrYields_AnnAvg ElectionYear  c.ElectionPeriod#c.US10YrYields_AnnAvg) ///
>  drop(*country_num c.year#c.GlobalReserveLevels GlobalReserveLevels year) ///
> mlabels () ///
> title("") 
{res}
                    &          e4  \\
ElectionPeriod      &       0.589* \\
                    &     (0.327)  \\
US10YrYields_AnnAvg &      -0.047  \\
                    &     (0.118)  \\
ElectionYear        &       0.016  \\
                    &     (0.188)  \\
Election*USrates    &      -0.188* \\
                    &     (0.096)  \\
L.deltaReserves_Imports&      -0.203**\\
                    &     (0.057)  \\
L.GDPpcap           &       0.000  \\
                    &     (0.000)  \\
L.GDPgrowth         &      -0.004  \\
                    &     (0.015)  \\
L.ny_gdp_totl_rt_zs &      -0.004  \\
                    &     (0.021)  \\
L.CurrAcctBal_PerGDP&      -0.001  \\
                    &     (0.008)  \\
L.ExtDebtStocks_PerGNI&      -0.002  \\
                    &     (0.001)  \\
L.DebtService_PerGDP&      -0.011  \\
                    &     (1.299)  \\
L.Inflation_annGDPdeflator&       0.011  \\
                    &     (0.007)  \\
L.PegBandManaged_NoUnion&       0.333**\\
                    &     (0.166)  \\
L.lvaw_garriga      &      -0.345  \\
                    &     (0.724)  \\
L.Taxes_PerGDP      &       3.457  \\
                    &     (2.265)  \\
L.BestCRtg          &       0.072* \\
                    &     (0.038)  \\
L.cyrs              &      -0.006  \\
                    &     (0.016)  \\
L.dyrs              &      -0.030  \\
                    &     (0.019)  \\
L.v2x_polyarchy     &       0.084  \\
                    &     (1.272)  \\
L.LeftGov           &      -0.093  \\
                    &     (0.146)  \\
Constant            &    -438.324**\\
                    &   (155.056)  \\
R2                  &        0.14  \\
N                   &         700  \\
* p<0.1, ** p<0.05
{txt}
{com}. 
. 
. ***************************************************************************************************************************************************************************
. *Section E: Hetereogenous Effects
. 
. tab country_num , gen(cn_)

{txt}country_num {c |}      Freq.     Percent        Cum.
{hline 12}{c +}{hline 35}
        ABW {c |}{res}          2        0.13        0.13
{txt}        ALB {c |}{res}         23        1.51        1.65
{txt}        AND {c |}{res}          2        0.13        1.78
{txt}        ARG {c |}{res}         24        1.58        3.36
{txt}        ARM {c |}{res}          8        0.53        3.88
{txt}        ASM {c |}{res}          2        0.13        4.02
{txt}        ATG {c |}{res}          2        0.13        4.15
{txt}        BEN {c |}{res}         22        1.45        5.60
{txt}        BFA {c |}{res}         21        1.38        6.98
{txt}        BGD {c |}{res}          8        0.53        7.50
{txt}        BGR {c |}{res}         24        1.58        9.08
{txt}        BHS {c |}{res}          2        0.13        9.22
{txt}        BIH {c |}{res}         24        1.58       10.80
{txt}        BLZ {c |}{res}          2        0.13       10.93
{txt}        BMU {c |}{res}          2        0.13       11.06
{txt}        BOL {c |}{res}         23        1.51       12.57
{txt}        BRA {c |}{res}         24        1.58       14.15
{txt}        BRB {c |}{res}          2        0.13       14.29
{txt}        BRN {c |}{res}          2        0.13       14.42
{txt}        BTN {c |}{res}          2        0.13       14.55
{txt}        BWA {c |}{res}         24        1.58       16.13
{txt}        CIV {c |}{res}         23        1.51       17.64
{txt}        CPV {c |}{res}          2        0.13       17.77
{txt}        CUW {c |}{res}          2        0.13       17.91
{txt}        CYM {c |}{res}          2        0.13       18.04
{txt}        CYP {c |}{res}         21        1.38       19.42
{txt}        DMA {c |}{res}          2        0.13       19.55
{txt}        DOM {c |}{res}         24        1.58       21.13
{txt}        ECU {c |}{res}         24        1.58       22.71
{txt}        FJI {c |}{res}          1        0.07       22.78
{txt}        FRO {c |}{res}          2        0.13       22.91
{txt}        FSM {c |}{res}          2        0.13       23.04
{txt}        GEO {c |}{res}         20        1.32       24.36
{txt}        GHA {c |}{res}         24        1.58       25.94
{txt}        GIB {c |}{res}          2        0.13       26.07
{txt}        GMB {c |}{res}          7        0.46       26.53
{txt}        GNB {c |}{res}         18        1.18       27.72
{txt}        GRD {c |}{res}          2        0.13       27.85
{txt}        GRL {c |}{res}          2        0.13       27.98
{txt}        GTM {c |}{res}         24        1.58       29.56
{txt}        GUM {c |}{res}          2        0.13       29.69
{txt}        GUY {c |}{res}          2        0.13       29.82
{txt}        HND {c |}{res}         16        1.05       30.88
{txt}        HRV {c |}{res}         24        1.58       32.46
{txt}        HTI {c |}{res}          8        0.53       32.98
{txt}        IDN {c |}{res}         24        1.58       34.56
{txt}        IMN {c |}{res}          2        0.13       34.69
{txt}        IND {c |}{res}         20        1.32       36.01
{txt}        IRQ {c |}{res}          6        0.39       36.41
{txt}        JAM {c |}{res}         24        1.58       37.99
{txt}        KEN {c |}{res}         19        1.25       39.24
{txt}        KGZ {c |}{res}          9        0.59       39.83
{txt}        KIR {c |}{res}          2        0.13       39.96
{txt}        KNA {c |}{res}          2        0.13       40.09
{txt}        LBN {c |}{res}         16        1.05       41.15
{txt}        LBR {c |}{res}         18        1.18       42.33
{txt}        LBY {c |}{res}          1        0.07       42.40
{txt}        LCA {c |}{res}          2        0.13       42.53
{txt}        LIE {c |}{res}          2        0.13       42.66
{txt}        LKA {c |}{res}         16        1.05       43.71
{txt}        LSO {c |}{res}         22        1.45       45.16
{txt}        MAC {c |}{res}          2        0.13       45.29
{txt}        MAF {c |}{res}          2        0.13       45.42
{txt}        MCO {c |}{res}          2        0.13       45.56
{txt}        MDA {c |}{res}         24        1.58       47.14
{txt}        MDG {c |}{res}         19        1.25       48.39
{txt}        MDV {c |}{res}          2        0.13       48.52
{txt}        MHL {c |}{res}          2        0.13       48.65
{txt}        MKD {c |}{res}         24        1.58       50.23
{txt}        MLI {c |}{res}         18        1.18       51.42
{txt}        MLT {c |}{res}          2        0.13       51.55
{txt}        MMR {c |}{res}          2        0.13       51.68
{txt}        MNE {c |}{res}          2        0.13       51.81
{txt}        MNG {c |}{res}         24        1.58       53.39
{txt}        MNP {c |}{res}          2        0.13       53.52
{txt}        MOZ {c |}{res}         17        1.12       54.64
{txt}        MRT {c |}{res}          7        0.46       55.10
{txt}        MUS {c |}{res}         24        1.58       56.68
{txt}        MWI {c |}{res}         24        1.58       58.26
{txt}        MYS {c |}{res}          6        0.39       58.66
{txt}        NAM {c |}{res}         24        1.58       60.24
{txt}        NCL {c |}{res}          2        0.13       60.37
{txt}        NER {c |}{res}         22        1.45       61.82
{txt}        NGA {c |}{res}         19        1.25       63.07
{txt}        NIC {c |}{res}         12        0.79       63.86
{txt}        NPL {c |}{res}         14        0.92       64.78
{txt}        NRU {c |}{res}          2        0.13       64.91
{txt}        PAK {c |}{res}          9        0.59       65.50
{txt}        PAN {c |}{res}         24        1.58       67.08
{txt}        PER {c |}{res}         23        1.51       68.60
{txt}        PHL {c |}{res}         24        1.58       70.18
{txt}        PLW {c |}{res}          2        0.13       70.31
{txt}        PNG {c |}{res}         24        1.58       71.89
{txt}        PRI {c |}{res}         24        1.58       73.47
{txt}        PRY {c |}{res}         24        1.58       75.05
{txt}        PSE {c |}{res}         24        1.58       76.63
{txt}        PYF {c |}{res}          2        0.13       76.76
{txt}        ROU {c |}{res}         24        1.58       78.34
{txt}        SEN {c |}{res}         24        1.58       79.92
{txt}        SGP {c |}{res}          4        0.26       80.18
{txt}        SLB {c |}{res}          2        0.13       80.32
{txt}        SLE {c |}{res}         21        1.38       81.70
{txt}        SLV {c |}{res}         21        1.38       83.08
{txt}        SMR {c |}{res}          2        0.13       83.21
{txt}        SRB {c |}{res}         15        0.99       84.20
{txt}        SSD {c |}{res}         11        0.72       84.92
{txt}        STP {c |}{res}          2        0.13       85.06
{txt}        SUR {c |}{res}          2        0.13       85.19
{txt}        SXM {c |}{res}          2        0.13       85.32
{txt}        SYC {c |}{res}          2        0.13       85.45
{txt}        TCA {c |}{res}          2        0.13       85.58
{txt}        TGO {c |}{res}         14        0.92       86.50
{txt}        THA {c |}{res}         10        0.66       87.16
{txt}        TLS {c |}{res}         17        1.12       88.28
{txt}        TON {c |}{res}          2        0.13       88.41
{txt}        TTO {c |}{res}         24        1.58       89.99
{txt}        TUN {c |}{res}         11        0.72       90.72
{txt}        TUV {c |}{res}          2        0.13       90.85
{txt}        TZA {c |}{res}         17        1.12       91.97
{txt}        UKR {c |}{res}         15        0.99       92.96
{txt}        URY {c |}{res}         24        1.58       94.54
{txt}        VCT {c |}{res}          2        0.13       94.67
{txt}        VEN {c |}{res}         11        0.72       95.39
{txt}        VGB {c |}{res}          2        0.13       95.52
{txt}        VIR {c |}{res}          2        0.13       95.66
{txt}        WSM {c |}{res}          2        0.13       95.79
{txt}        XKX {c |}{res}         22        1.45       97.24
{txt}        ZAF {c |}{res}         24        1.58       98.82
{txt}        ZMB {c |}{res}         18        1.18      100.00
{txt}{hline 12}{c +}{hline 35}
      Total {c |}{res}      1,519      100.00
{txt}
{com}. 
. regress deltaReserves_Imports c.ElectionPeriod##c.US10YrYields_AnnAvg ElectionYear l.deltaReserves_Imports l.GDPpcap l.GDPgrowth l.ny_gdp_totl_rt_zs l.CurrAcctBal_PerGDP l.ExtDebtStocks_PerGNI l.DebtService_PerGDP l.Inflation_annGDPdeflator l.PegBandManaged_NoUnion l.Taxes_PerGDP l.BestCRtg l.cyrs l.dyrs l.v2x_polyarchy l.Left cn_* c.year##c.GlobalReserveLevels if  lvaw_garriga>=.64825, robust
{p 0 6 2}{txt}note: cn_1 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_3 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_6 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_7 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_8 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_9 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_10 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_12 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_14 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_15 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_16 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_18 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_19 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_20 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_22 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_23 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_24 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_25 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_26 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_27 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_30 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_31 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_32 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_35 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_37 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_38 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_39 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_41 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_42 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_44 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_45 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_47 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_48 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_49 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_53 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_54 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_57 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_58 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_59 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_62 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_63 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_64 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_67 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_68 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_69 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_70 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_71 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_72 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_73 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_75 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_76 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_77 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_80 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_81 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_82 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_83 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_84 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_87 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_88 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_92 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_94 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_96 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_97 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_99 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_100 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_101 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_104 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_105 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_106 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_107 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_108 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_109 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_110 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_111 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_112 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_113 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_115 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_116 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_118 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_119 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_121 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_122 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_123 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_124 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_125 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_126 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_127 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_128 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_129 omitted because of collinearity{p_end}

Linear regression                               Number of obs     = {res}       384
                                                {txt}{help j_robustsingular:F(60, 321) }       =  {res}        .
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.3520
                                                {txt}Root MSE          =    {res} 1.2257

{txt}{hline 39}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 40}{c |}{col 52}    Robust
{col 1}                 deltaReserves_Imports{col 40}{c |}      Coef.{col 52}   Std. Err.{col 64}      t{col 72}   P>|t|{col 80}     [95% Con{col 93}f. Interval]
{hline 39}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 24}ElectionPeriod {c |}{col 40}{res}{space 2} .8541556{col 52}{space 2} .4289726{col 63}{space 1}    1.99{col 72}{space 3}0.047{col 80}{space 4} .0102029{col 93}{space 3} 1.698108
{txt}{space 19}US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.8401544{col 52}{space 2} .1530403{col 63}{space 1}   -5.49{col 72}{space 3}0.000{col 80}{space 4}-1.141243{col 93}{space 3}-.5390656
{txt}{space 38} {c |}
c.ElectionPeriod#c.US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.2594365{col 52}{space 2} .1162748{col 63}{space 1}   -2.23{col 72}{space 3}0.026{col 80}{space 4}-.4881935{col 93}{space 3}-.0306796
{txt}{space 38} {c |}
{space 26}ElectionYear {c |}{col 40}{res}{space 2} .0884353{col 52}{space 2}  .194091{col 63}{space 1}    0.46{col 72}{space 3}0.649{col 80}{space 4}-.2934159{col 93}{space 3} .4702864
{txt}{space 38} {c |}
{space 17}deltaReserves_Imports {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.4010617{col 52}{space 2} .0913777{col 63}{space 1}   -4.39{col 72}{space 3}0.000{col 80}{space 4}-.5808366{col 93}{space 3}-.2212868
{txt}{space 38} {c |}
{space 31}GDPpcap {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0000515{col 52}{space 2}  .000108{col 63}{space 1}   -0.48{col 72}{space 3}0.634{col 80}{space 4} -.000264{col 93}{space 3} .0001611
{txt}{space 38} {c |}
{space 29}GDPgrowth {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0341894{col 52}{space 2} .0189757{col 63}{space 1}    1.80{col 72}{space 3}0.073{col 80}{space 4}-.0031431{col 93}{space 3} .0715219
{txt}{space 38} {c |}
{space 21}ny_gdp_totl_rt_zs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0298157{col 52}{space 2}   .03381{col 63}{space 1}   -0.88{col 72}{space 3}0.379{col 80}{space 4}-.0963329{col 93}{space 3} .0367016
{txt}{space 38} {c |}
{space 20}CurrAcctBal_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0023558{col 52}{space 2} .0135613{col 63}{space 1}    0.17{col 72}{space 3}0.862{col 80}{space 4}-.0243244{col 93}{space 3}  .029036
{txt}{space 38} {c |}
{space 18}ExtDebtStocks_PerGNI {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0026879{col 52}{space 2} .0039837{col 63}{space 1}   -0.67{col 72}{space 3}0.500{col 80}{space 4}-.0105254{col 93}{space 3} .0051495
{txt}{space 38} {c |}
{space 20}DebtService_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-3.258506{col 52}{space 2} 6.738701{col 63}{space 1}   -0.48{col 72}{space 3}0.629{col 80}{space 4} -16.5161{col 93}{space 3} 9.999091
{txt}{space 38} {c |}
{space 14}Inflation_annGDPdeflator {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0135652{col 52}{space 2} .0200766{col 63}{space 1}   -0.68{col 72}{space 3}0.500{col 80}{space 4}-.0530635{col 93}{space 3}  .025933
{txt}{space 38} {c |}
{space 16}PegBandManaged_NoUnion {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .3545541{col 52}{space 2} .3166458{col 63}{space 1}    1.12{col 72}{space 3}0.264{col 80}{space 4} -.268409{col 93}{space 3} .9775172
{txt}{space 38} {c |}
{space 26}Taxes_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} 11.10257{col 52}{space 2} 3.274709{col 63}{space 1}    3.39{col 72}{space 3}0.001{col 80}{space 4} 4.659965{col 93}{space 3} 17.54517
{txt}{space 38} {c |}
{space 30}BestCRtg {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} -.025708{col 52}{space 2} .0448911{col 63}{space 1}   -0.57{col 72}{space 3}0.567{col 80}{space 4}-.1140259{col 93}{space 3}   .06261
{txt}{space 38} {c |}
{space 34}cyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}  .007501{col 52}{space 2} .0295884{col 63}{space 1}    0.25{col 72}{space 3}0.800{col 80}{space 4}-.0507107{col 93}{space 3} .0657126
{txt}{space 38} {c |}
{space 34}dyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0076069{col 52}{space 2} .0188429{col 63}{space 1}    0.40{col 72}{space 3}0.687{col 80}{space 4}-.0294643{col 93}{space 3}  .044678
{txt}{space 38} {c |}
{space 25}v2x_polyarchy {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0481795{col 52}{space 2} 1.236333{col 63}{space 1}    0.04{col 72}{space 3}0.969{col 80}{space 4}-2.384159{col 93}{space 3} 2.480518
{txt}{space 38} {c |}
{space 31}LeftGov {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}  -.25806{col 52}{space 2} .1772118{col 63}{space 1}   -1.46{col 72}{space 3}0.146{col 80}{space 4}-.6067032{col 93}{space 3} .0905831
{txt}{space 38} {c |}
{space 34}cn_1 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_2 {c |}{col 40}{res}{space 2}  .732946{col 52}{space 2} .9977251{col 63}{space 1}    0.73{col 72}{space 3}0.463{col 80}{space 4} -1.22996{col 93}{space 3} 2.695852
{txt}{space 34}cn_3 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_4 {c |}{col 40}{res}{space 2} 1.106431{col 52}{space 2} 1.092277{col 63}{space 1}    1.01{col 72}{space 3}0.312{col 80}{space 4}-1.042496{col 93}{space 3} 3.255358
{txt}{space 34}cn_5 {c |}{col 40}{res}{space 2} .4368349{col 52}{space 2} 1.215013{col 63}{space 1}    0.36{col 72}{space 3}0.719{col 80}{space 4}-1.953559{col 93}{space 3} 2.827229
{txt}{space 34}cn_6 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_7 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_8 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_9 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_10 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_11 {c |}{col 40}{res}{space 2} .5143075{col 52}{space 2} .8713429{col 63}{space 1}    0.59{col 72}{space 3}0.555{col 80}{space 4}-1.199957{col 93}{space 3} 2.228572
{txt}{space 33}cn_12 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_13 {c |}{col 40}{res}{space 2} .7000577{col 52}{space 2} .9837835{col 63}{space 1}    0.71{col 72}{space 3}0.477{col 80}{space 4} -1.23542{col 93}{space 3} 2.635535
{txt}{space 33}cn_14 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_15 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_16 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_17 {c |}{col 40}{res}{space 2}-.9774672{col 52}{space 2} 1.269609{col 63}{space 1}   -0.77{col 72}{space 3}0.442{col 80}{space 4}-3.475272{col 93}{space 3} 1.520338
{txt}{space 33}cn_18 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_19 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_20 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_21 {c |}{col 40}{res}{space 2}-2.135934{col 52}{space 2} .7571334{col 63}{space 1}   -2.82{col 72}{space 3}0.005{col 80}{space 4}-3.625504{col 93}{space 3}-.6463631
{txt}{space 33}cn_22 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_23 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_24 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_25 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_26 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_27 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_28 {c |}{col 40}{res}{space 2} 1.523011{col 52}{space 2} .9265787{col 63}{space 1}    1.64{col 72}{space 3}0.101{col 80}{space 4}-.2999229{col 93}{space 3} 3.345945
{txt}{space 33}cn_29 {c |}{col 40}{res}{space 2} 2.245016{col 52}{space 2} .9346383{col 63}{space 1}    2.40{col 72}{space 3}0.017{col 80}{space 4} .4062255{col 93}{space 3} 4.083806
{txt}{space 33}cn_30 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_31 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_32 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_33 {c |}{col 40}{res}{space 2} .3599566{col 52}{space 2} .9898002{col 63}{space 1}    0.36{col 72}{space 3}0.716{col 80}{space 4}-1.587358{col 93}{space 3} 2.307271
{txt}{space 33}cn_34 {c |}{col 40}{res}{space 2} .9849686{col 52}{space 2} 1.033282{col 63}{space 1}    0.95{col 72}{space 3}0.341{col 80}{space 4}-1.047891{col 93}{space 3} 3.017828
{txt}{space 33}cn_35 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_36 {c |}{col 40}{res}{space 2} 3.562738{col 52}{space 2} 1.622132{col 63}{space 1}    2.20{col 72}{space 3}0.029{col 80}{space 4} .3713852{col 93}{space 3} 6.754091
{txt}{space 33}cn_37 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_38 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_39 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_40 {c |}{col 40}{res}{space 2} 1.523643{col 52}{space 2} 1.129436{col 63}{space 1}    1.35{col 72}{space 3}0.178{col 80}{space 4}-.6983893{col 93}{space 3} 3.745675
{txt}{space 33}cn_41 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_42 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_43 {c |}{col 40}{res}{space 2} .6044757{col 52}{space 2}  1.24973{col 63}{space 1}    0.48{col 72}{space 3}0.629{col 80}{space 4}-1.854221{col 93}{space 3} 3.063172
{txt}{space 33}cn_44 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_45 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_46 {c |}{col 40}{res}{space 2}  1.15782{col 52}{space 2} .9965871{col 63}{space 1}    1.16{col 72}{space 3}0.246{col 80}{space 4} -.802847{col 93}{space 3} 3.118488
{txt}{space 33}cn_47 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_48 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_49 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_50 {c |}{col 40}{res}{space 2} .6564172{col 52}{space 2} 1.127712{col 63}{space 1}    0.58{col 72}{space 3}0.561{col 80}{space 4}-1.562223{col 93}{space 3} 2.875058
{txt}{space 33}cn_51 {c |}{col 40}{res}{space 2} .7058271{col 52}{space 2} 1.297078{col 63}{space 1}    0.54{col 72}{space 3}0.587{col 80}{space 4} -1.84602{col 93}{space 3} 3.257674
{txt}{space 33}cn_52 {c |}{col 40}{res}{space 2} .1369213{col 52}{space 2} 1.215839{col 63}{space 1}    0.11{col 72}{space 3}0.910{col 80}{space 4}-2.255098{col 93}{space 3} 2.528941
{txt}{space 33}cn_53 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_54 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_55 {c |}{col 40}{res}{space 2} 5.134475{col 52}{space 2} 3.921612{col 63}{space 1}    1.31{col 72}{space 3}0.191{col 80}{space 4}-2.580833{col 93}{space 3} 12.84978
{txt}{space 33}cn_56 {c |}{col 40}{res}{space 2} 1.597925{col 52}{space 2} 1.439586{col 63}{space 1}    1.11{col 72}{space 3}0.268{col 80}{space 4}-1.234289{col 93}{space 3} 4.430139
{txt}{space 33}cn_57 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_58 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_59 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_60 {c |}{col 40}{res}{space 2} .8026608{col 52}{space 2} 1.559802{col 63}{space 1}    0.51{col 72}{space 3}0.607{col 80}{space 4}-2.266066{col 93}{space 3} 3.871387
{txt}{space 33}cn_61 {c |}{col 40}{res}{space 2}-1.912699{col 52}{space 2} 1.085891{col 63}{space 1}   -1.76{col 72}{space 3}0.079{col 80}{space 4}-4.049061{col 93}{space 3} .2236623
{txt}{space 33}cn_62 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_63 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_64 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_65 {c |}{col 40}{res}{space 2} .6508613{col 52}{space 2} 1.109637{col 63}{space 1}    0.59{col 72}{space 3}0.558{col 80}{space 4}-1.532218{col 93}{space 3} 2.833941
{txt}{space 33}cn_66 {c |}{col 40}{res}{space 2} 1.546896{col 52}{space 2} 1.254676{col 63}{space 1}    1.23{col 72}{space 3}0.219{col 80}{space 4} -.921531{col 93}{space 3} 4.015324
{txt}{space 33}cn_67 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_68 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_69 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_70 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_71 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_72 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_73 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_74 {c |}{col 40}{res}{space 2} 1.158373{col 52}{space 2} 1.431067{col 63}{space 1}    0.81{col 72}{space 3}0.419{col 80}{space 4}-1.657082{col 93}{space 3} 3.973829
{txt}{space 33}cn_75 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_76 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_77 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_78 {c |}{col 40}{res}{space 2} 1.450391{col 52}{space 2} 1.140932{col 63}{space 1}    1.27{col 72}{space 3}0.205{col 80}{space 4}-.7942578{col 93}{space 3}  3.69504
{txt}{space 33}cn_79 {c |}{col 40}{res}{space 2}  .010417{col 52}{space 2} 1.156618{col 63}{space 1}    0.01{col 72}{space 3}0.993{col 80}{space 4}-2.265093{col 93}{space 3} 2.285927
{txt}{space 33}cn_80 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_81 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_82 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_83 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_84 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_85 {c |}{col 40}{res}{space 2} 1.328161{col 52}{space 2} 1.302736{col 63}{space 1}    1.02{col 72}{space 3}0.309{col 80}{space 4}-1.234819{col 93}{space 3}  3.89114
{txt}{space 33}cn_86 {c |}{col 40}{res}{space 2} .0923338{col 52}{space 2} 2.487279{col 63}{space 1}    0.04{col 72}{space 3}0.970{col 80}{space 4}-4.801094{col 93}{space 3} 4.985761
{txt}{space 33}cn_87 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_88 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_89 {c |}{col 40}{res}{space 2} 3.285852{col 52}{space 2} 2.145358{col 63}{space 1}    1.53{col 72}{space 3}0.127{col 80}{space 4}-.9348856{col 93}{space 3} 7.506589
{txt}{space 33}cn_90 {c |}{col 40}{res}{space 2} 1.304004{col 52}{space 2} .9952821{col 63}{space 1}    1.31{col 72}{space 3}0.191{col 80}{space 4}-.6540959{col 93}{space 3} 3.262104
{txt}{space 33}cn_91 {c |}{col 40}{res}{space 2} 1.838013{col 52}{space 2} 1.607796{col 63}{space 1}    1.14{col 72}{space 3}0.254{col 80}{space 4}-1.325135{col 93}{space 3} 5.001161
{txt}{space 33}cn_92 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_93 {c |}{col 40}{res}{space 2} 2.132597{col 52}{space 2} 1.283992{col 63}{space 1}    1.66{col 72}{space 3}0.098{col 80}{space 4}-.3935066{col 93}{space 3}   4.6587
{txt}{space 33}cn_94 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_95 {c |}{col 40}{res}{space 2} 1.828974{col 52}{space 2} 1.223361{col 63}{space 1}    1.50{col 72}{space 3}0.136{col 80}{space 4}-.5778434{col 93}{space 3} 4.235792
{txt}{space 33}cn_96 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_97 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_98 {c |}{col 40}{res}{space 2} .9325175{col 52}{space 2} .8695455{col 63}{space 1}    1.07{col 72}{space 3}0.284{col 80}{space 4}-.7782104{col 93}{space 3} 2.643245
{txt}{space 33}cn_99 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_100 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_101 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_102 {c |}{col 40}{res}{space 2} 2.182512{col 52}{space 2} 1.376054{col 63}{space 1}    1.59{col 72}{space 3}0.114{col 80}{space 4}-.5247116{col 93}{space 3} 4.889736
{txt}{space 32}cn_103 {c |}{col 40}{res}{space 2} .8000194{col 52}{space 2} 1.050547{col 63}{space 1}    0.76{col 72}{space 3}0.447{col 80}{space 4}-1.266808{col 93}{space 3} 2.866847
{txt}{space 32}cn_104 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_105 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_106 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_107 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_108 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_109 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_110 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_111 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_112 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_113 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_114 {c |}{col 40}{res}{space 2} 2.776674{col 52}{space 2} 3.026043{col 63}{space 1}    0.92{col 72}{space 3}0.360{col 80}{space 4}-3.176709{col 93}{space 3} 8.730056
{txt}{space 32}cn_115 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_116 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_117 {c |}{col 40}{res}{space 2} 1.075613{col 52}{space 2} 2.090574{col 63}{space 1}    0.51{col 72}{space 3}0.607{col 80}{space 4}-3.037343{col 93}{space 3}  5.18857
{txt}{space 32}cn_118 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_119 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_120 {c |}{col 40}{res}{space 2} .1095093{col 52}{space 2} 1.029853{col 63}{space 1}    0.11{col 72}{space 3}0.915{col 80}{space 4}-1.916604{col 93}{space 3} 2.135622
{txt}{space 32}cn_121 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_122 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_123 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_124 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_125 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_126 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_127 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_128 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_129 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}year {c |}{col 40}{res}{space 2}  .165457{col 52}{space 2} .0943212{col 63}{space 1}    1.75{col 72}{space 3}0.080{col 80}{space 4}-.0201088{col 93}{space 3} .3510229
{txt}{space 19}GlobalReserveLevels {c |}{col 40}{res}{space 2} 1.71e-11{col 52}{space 2} 1.26e-11{col 63}{space 1}    1.36{col 72}{space 3}0.175{col 80}{space 4}-7.64e-12{col 93}{space 3} 4.19e-11
{txt}{space 38} {c |}
{space 10}c.year#c.GlobalReserveLevels {c |}{col 40}{res}{space 2}-8.73e-15{col 52}{space 2} 6.29e-15{col 63}{space 1}   -1.39{col 72}{space 3}0.166{col 80}{space 4}-2.11e-14{col 93}{space 3} 3.64e-15
{txt}{space 38} {c |}
{space 33}_cons {c |}{col 40}{res}{space 2}-328.0072{col 52}{space 2} 188.9169{col 63}{space 1}   -1.74{col 72}{space 3}0.083{col 80}{space 4}-699.6788{col 93}{space 3} 43.66442
{txt}{hline 39}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store c1a
{txt}
{com}. 
. regress deltaReserves_Imports c.ElectionPeriod##c.US10YrYields_AnnAvg ElectionYear l.deltaReserves_Imports l.GDPpcap l.GDPgrowth l.ny_gdp_totl_rt_zs l.CurrAcctBal_PerGDP l.ExtDebtStocks_PerGNI l.DebtService_PerGDP l.Inflation_annGDPdeflator l.PegBandManaged_NoUnion l.Taxes_PerGDP l.BestCRtg l.cyrs l.dyrs l.v2x_polyarchy l.Left cn_* c.year##c.GlobalReserveLevels if  lvaw_garriga<.64825, robust
{p 0 6 2}{txt}note: cn_1 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_2 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_3 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_4 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_5 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_6 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_7 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_8 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_9 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_11 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_12 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_13 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_14 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_15 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_16 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_18 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_19 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_20 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_22 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_23 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_24 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_25 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_26 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_27 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_30 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_31 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_32 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_33 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_35 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_37 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_38 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_39 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_40 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_41 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_42 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_43 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_44 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_46 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_47 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_49 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_53 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_54 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_57 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_58 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_59 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_61 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_62 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_63 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_64 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_65 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_66 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_67 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_68 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_69 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_70 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_71 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_72 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_73 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_75 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_80 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_81 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_82 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_83 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_84 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_85 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_87 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_90 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_92 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_94 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_96 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_97 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_98 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_99 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_100 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_101 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_102 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_103 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_104 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_105 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_106 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_107 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_108 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_109 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_110 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_111 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_112 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_114 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_115 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_116 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_118 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_120 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_121 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_122 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_123 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_124 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_125 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_126 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_127 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_129 omitted because of collinearity{p_end}

Linear regression                               Number of obs     = {res}       387
                                                {txt}{help j_robustsingular:F(50, 334) }       =  {res}        .
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.1103
                                                {txt}Root MSE          =    {res} 1.1998

{txt}{hline 39}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 40}{c |}{col 52}    Robust
{col 1}                 deltaReserves_Imports{col 40}{c |}      Coef.{col 52}   Std. Err.{col 64}      t{col 72}   P>|t|{col 80}     [95% Con{col 93}f. Interval]
{hline 39}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 24}ElectionPeriod {c |}{col 40}{res}{space 2} .5863119{col 52}{space 2} .3715323{col 63}{space 1}    1.58{col 72}{space 3}0.115{col 80}{space 4}-.1445263{col 93}{space 3}  1.31715
{txt}{space 19}US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.1651822{col 52}{space 2} .1419738{col 63}{space 1}   -1.16{col 72}{space 3}0.245{col 80}{space 4}-.4444577{col 93}{space 3} .1140933
{txt}{space 38} {c |}
c.ElectionPeriod#c.US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.2572396{col 52}{space 2} .1151914{col 63}{space 1}   -2.23{col 72}{space 3}0.026{col 80}{space 4}-.4838317{col 93}{space 3}-.0306475
{txt}{space 38} {c |}
{space 26}ElectionYear {c |}{col 40}{res}{space 2}  .057125{col 52}{space 2}  .201731{col 63}{space 1}    0.28{col 72}{space 3}0.777{col 80}{space 4}-.3396984{col 93}{space 3} .4539484
{txt}{space 38} {c |}
{space 17}deltaReserves_Imports {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.1687525{col 52}{space 2} .0809855{col 63}{space 1}   -2.08{col 72}{space 3}0.038{col 80}{space 4}-.3280584{col 93}{space 3}-.0094466
{txt}{space 38} {c |}
{space 31}GDPpcap {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}  .000228{col 52}{space 2} .0000822{col 63}{space 1}    2.77{col 72}{space 3}0.006{col 80}{space 4} .0000662{col 93}{space 3} .0003897
{txt}{space 38} {c |}
{space 29}GDPgrowth {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0192432{col 52}{space 2} .0362287{col 63}{space 1}    0.53{col 72}{space 3}0.596{col 80}{space 4}-.0520219{col 93}{space 3} .0905083
{txt}{space 38} {c |}
{space 21}ny_gdp_totl_rt_zs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0028167{col 52}{space 2}  .026303{col 63}{space 1}   -0.11{col 72}{space 3}0.915{col 80}{space 4}-.0545571{col 93}{space 3} .0489238
{txt}{space 38} {c |}
{space 20}CurrAcctBal_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0074159{col 52}{space 2} .0118185{col 63}{space 1}    0.63{col 72}{space 3}0.531{col 80}{space 4}-.0158323{col 93}{space 3}  .030664
{txt}{space 38} {c |}
{space 18}ExtDebtStocks_PerGNI {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0024039{col 52}{space 2} .0014407{col 63}{space 1}   -1.67{col 72}{space 3}0.096{col 80}{space 4}-.0052379{col 93}{space 3} .0004302
{txt}{space 38} {c |}
{space 20}DebtService_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .1453562{col 52}{space 2} 1.264922{col 63}{space 1}    0.11{col 72}{space 3}0.909{col 80}{space 4}-2.342861{col 93}{space 3} 2.633573
{txt}{space 38} {c |}
{space 14}Inflation_annGDPdeflator {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0059964{col 52}{space 2} .0091272{col 63}{space 1}    0.66{col 72}{space 3}0.512{col 80}{space 4}-.0119577{col 93}{space 3} .0239504
{txt}{space 38} {c |}
{space 16}PegBandManaged_NoUnion {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0384596{col 52}{space 2} .2258613{col 63}{space 1}    0.17{col 72}{space 3}0.865{col 80}{space 4}-.4058303{col 93}{space 3} .4827495
{txt}{space 38} {c |}
{space 26}Taxes_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .2014516{col 52}{space 2} 5.234083{col 63}{space 1}    0.04{col 72}{space 3}0.969{col 80}{space 4}-10.09447{col 93}{space 3} 10.49737
{txt}{space 38} {c |}
{space 30}BestCRtg {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .1031198{col 52}{space 2} .0525739{col 63}{space 1}    1.96{col 72}{space 3}0.051{col 80}{space 4} -.000298{col 93}{space 3} .2065375
{txt}{space 38} {c |}
{space 34}cyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0064596{col 52}{space 2}  .018565{col 63}{space 1}    0.35{col 72}{space 3}0.728{col 80}{space 4}-.0300595{col 93}{space 3} .0429787
{txt}{space 38} {c |}
{space 34}dyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0257371{col 52}{space 2} .0156966{col 63}{space 1}   -1.64{col 72}{space 3}0.102{col 80}{space 4}-.0566137{col 93}{space 3} .0051395
{txt}{space 38} {c |}
{space 25}v2x_polyarchy {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.2236323{col 52}{space 2} 2.107435{col 63}{space 1}   -0.11{col 72}{space 3}0.916{col 80}{space 4} -4.36915{col 93}{space 3} 3.921886
{txt}{space 38} {c |}
{space 31}LeftGov {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.1059675{col 52}{space 2} .2409575{col 63}{space 1}   -0.44{col 72}{space 3}0.660{col 80}{space 4}-.5799531{col 93}{space 3} .3680181
{txt}{space 38} {c |}
{space 34}cn_1 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_2 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_3 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_4 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_5 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_6 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_7 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_8 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_9 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_10 {c |}{col 40}{res}{space 2}-.4269533{col 52}{space 2} .7591089{col 63}{space 1}   -0.56{col 72}{space 3}0.574{col 80}{space 4} -1.92019{col 93}{space 3} 1.066284
{txt}{space 33}cn_11 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_12 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_13 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_14 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_15 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_16 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_17 {c |}{col 40}{res}{space 2}-.3598549{col 52}{space 2}  1.37727{col 63}{space 1}   -0.26{col 72}{space 3}0.794{col 80}{space 4}-3.069071{col 93}{space 3} 2.349361
{txt}{space 33}cn_18 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_19 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_20 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_21 {c |}{col 40}{res}{space 2}-.7446073{col 52}{space 2} 1.257799{col 63}{space 1}   -0.59{col 72}{space 3}0.554{col 80}{space 4}-3.218813{col 93}{space 3} 1.729599
{txt}{space 33}cn_22 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_23 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_24 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_25 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_26 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_27 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_28 {c |}{col 40}{res}{space 2}-.6650412{col 52}{space 2} .7678537{col 63}{space 1}   -0.87{col 72}{space 3}0.387{col 80}{space 4} -2.17548{col 93}{space 3} .8453977
{txt}{space 33}cn_29 {c |}{col 40}{res}{space 2}-1.027585{col 52}{space 2} .6476125{col 63}{space 1}   -1.59{col 72}{space 3}0.114{col 80}{space 4}-2.301498{col 93}{space 3} .2463284
{txt}{space 33}cn_30 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_31 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_32 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_33 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_34 {c |}{col 40}{res}{space 2} .1580278{col 52}{space 2} .7428299{col 63}{space 1}    0.21{col 72}{space 3}0.832{col 80}{space 4}-1.303187{col 93}{space 3} 1.619243
{txt}{space 33}cn_35 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_36 {c |}{col 40}{res}{space 2} .2529696{col 52}{space 2} .6756246{col 63}{space 1}    0.37{col 72}{space 3}0.708{col 80}{space 4}-1.076046{col 93}{space 3} 1.581985
{txt}{space 33}cn_37 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_38 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_39 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_40 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_41 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_42 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_43 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_44 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_45 {c |}{col 40}{res}{space 2}-.0775128{col 52}{space 2} .8375176{col 63}{space 1}   -0.09{col 72}{space 3}0.926{col 80}{space 4}-1.724987{col 93}{space 3} 1.569961
{txt}{space 33}cn_46 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_47 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_48 {c |}{col 40}{res}{space 2} .8601525{col 52}{space 2} .8168005{col 63}{space 1}    1.05{col 72}{space 3}0.293{col 80}{space 4}-.7465691{col 93}{space 3} 2.466874
{txt}{space 33}cn_49 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_50 {c |}{col 40}{res}{space 2}-.2021073{col 52}{space 2} 1.115199{col 63}{space 1}   -0.18{col 72}{space 3}0.856{col 80}{space 4}-2.395806{col 93}{space 3} 1.991591
{txt}{space 33}cn_51 {c |}{col 40}{res}{space 2} .0423653{col 52}{space 2}  .566307{col 63}{space 1}    0.07{col 72}{space 3}0.940{col 80}{space 4}-1.071613{col 93}{space 3} 1.156343
{txt}{space 33}cn_52 {c |}{col 40}{res}{space 2} .1689465{col 52}{space 2}  .523441{col 63}{space 1}    0.32{col 72}{space 3}0.747{col 80}{space 4}  -.86071{col 93}{space 3} 1.198603
{txt}{space 33}cn_53 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_54 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_55 {c |}{col 40}{res}{space 2}-.1201868{col 52}{space 2} .9108966{col 63}{space 1}   -0.13{col 72}{space 3}0.895{col 80}{space 4}-1.912004{col 93}{space 3} 1.671631
{txt}{space 33}cn_56 {c |}{col 40}{res}{space 2} .4821227{col 52}{space 2}  .749804{col 63}{space 1}    0.64{col 72}{space 3}0.521{col 80}{space 4}-.9928107{col 93}{space 3} 1.957056
{txt}{space 33}cn_57 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_58 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_59 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_60 {c |}{col 40}{res}{space 2}-.5257049{col 52}{space 2} .7148065{col 63}{space 1}   -0.74{col 72}{space 3}0.463{col 80}{space 4}-1.931795{col 93}{space 3} .8803852
{txt}{space 33}cn_61 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_62 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_63 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_64 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_65 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_66 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_67 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_68 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_69 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_70 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_71 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_72 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_73 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_74 {c |}{col 40}{res}{space 2} .0686102{col 52}{space 2} .7364432{col 63}{space 1}    0.09{col 72}{space 3}0.926{col 80}{space 4}-1.380041{col 93}{space 3} 1.517262
{txt}{space 33}cn_75 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_76 {c |}{col 40}{res}{space 2} .6496982{col 52}{space 2} .5706531{col 63}{space 1}    1.14{col 72}{space 3}0.256{col 80}{space 4} -.472829{col 93}{space 3} 1.772225
{txt}{space 33}cn_77 {c |}{col 40}{res}{space 2} .9477066{col 52}{space 2}  .734289{col 63}{space 1}    1.29{col 72}{space 3}0.198{col 80}{space 4}-.4967074{col 93}{space 3} 2.392121
{txt}{space 33}cn_78 {c |}{col 40}{res}{space 2}-.6891348{col 52}{space 2} 1.160856{col 63}{space 1}   -0.59{col 72}{space 3}0.553{col 80}{space 4}-2.972646{col 93}{space 3} 1.594376
{txt}{space 33}cn_79 {c |}{col 40}{res}{space 2}-.2833261{col 52}{space 2} .5827105{col 63}{space 1}   -0.49{col 72}{space 3}0.627{col 80}{space 4}-1.429571{col 93}{space 3}  .862919
{txt}{space 33}cn_80 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_81 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_82 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_83 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_84 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_85 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_86 {c |}{col 40}{res}{space 2}-.2836252{col 52}{space 2} .9575636{col 63}{space 1}   -0.30{col 72}{space 3}0.767{col 80}{space 4}-2.167241{col 93}{space 3}  1.59999
{txt}{space 33}cn_87 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_88 {c |}{col 40}{res}{space 2}-.2633243{col 52}{space 2} .8564189{col 63}{space 1}   -0.31{col 72}{space 3}0.759{col 80}{space 4}-1.947979{col 93}{space 3}  1.42133
{txt}{space 33}cn_89 {c |}{col 40}{res}{space 2}-1.491643{col 52}{space 2} 1.325452{col 63}{space 1}   -1.13{col 72}{space 3}0.261{col 80}{space 4}-4.098929{col 93}{space 3} 1.115643
{txt}{space 33}cn_90 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_91 {c |}{col 40}{res}{space 2} .2490299{col 52}{space 2} .6236445{col 63}{space 1}    0.40{col 72}{space 3}0.690{col 80}{space 4}-.9777362{col 93}{space 3} 1.475796
{txt}{space 33}cn_92 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_93 {c |}{col 40}{res}{space 2} .1547922{col 52}{space 2} .5311338{col 63}{space 1}    0.29{col 72}{space 3}0.771{col 80}{space 4}-.8899968{col 93}{space 3} 1.199581
{txt}{space 33}cn_94 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_95 {c |}{col 40}{res}{space 2}-.3229973{col 52}{space 2} .7094688{col 63}{space 1}   -0.46{col 72}{space 3}0.649{col 80}{space 4}-1.718588{col 93}{space 3} 1.072593
{txt}{space 33}cn_96 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_97 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_98 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_99 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_100 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_101 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_102 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_103 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_104 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_105 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_106 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_107 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_108 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_109 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_110 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_111 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_112 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_113 {c |}{col 40}{res}{space 2}-.6174824{col 52}{space 2} .7461294{col 63}{space 1}   -0.83{col 72}{space 3}0.408{col 80}{space 4}-2.085188{col 93}{space 3} .8502229
{txt}{space 32}cn_114 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_115 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_116 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_117 {c |}{col 40}{res}{space 2}-.1378414{col 52}{space 2}  1.23831{col 63}{space 1}   -0.11{col 72}{space 3}0.911{col 80}{space 4}-2.573711{col 93}{space 3} 2.298028
{txt}{space 32}cn_118 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_119 {c |}{col 40}{res}{space 2}-.3082292{col 52}{space 2} .6497416{col 63}{space 1}   -0.47{col 72}{space 3}0.636{col 80}{space 4}-1.586331{col 93}{space 3} .9698722
{txt}{space 32}cn_120 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_121 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_122 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_123 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_124 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_125 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_126 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_127 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_128 {c |}{col 40}{res}{space 2} .0452891{col 52}{space 2} 1.106663{col 63}{space 1}    0.04{col 72}{space 3}0.967{col 80}{space 4}-2.131618{col 93}{space 3} 2.222196
{txt}{space 32}cn_129 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}year {c |}{col 40}{res}{space 2} .0743225{col 52}{space 2} .0837741{col 63}{space 1}    0.89{col 72}{space 3}0.376{col 80}{space 4}-.0904689{col 93}{space 3} .2391139
{txt}{space 19}GlobalReserveLevels {c |}{col 40}{res}{space 2} 1.68e-11{col 52}{space 2} 1.44e-11{col 63}{space 1}    1.16{col 72}{space 3}0.246{col 80}{space 4}-1.16e-11{col 93}{space 3} 4.51e-11
{txt}{space 38} {c |}
{space 10}c.year#c.GlobalReserveLevels {c |}{col 40}{res}{space 2}-8.42e-15{col 52}{space 2} 7.19e-15{col 63}{space 1}   -1.17{col 72}{space 3}0.243{col 80}{space 4}-2.26e-14{col 93}{space 3} 5.73e-15
{txt}{space 38} {c |}
{space 33}_cons {c |}{col 40}{res}{space 2}-149.1336{col 52}{space 2} 167.7339{col 63}{space 1}   -0.89{col 72}{space 3}0.375{col 80}{space 4}-479.0815{col 93}{space 3} 180.8143
{txt}{hline 39}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store c2a
{txt}
{com}. 
. 
. regress deltaReserves_Imports c.ElectionPeriod##c.US10YrYields_AnnAvg ElectionYear l.deltaReserves_Imports l.GDPpcap l.GDPgrowth l.ny_gdp_totl_rt_zs l.CurrAcctBal_PerGDP l.ExtDebtStocks_PerGNI l.DebtService_PerGDP l.Inflation_annGDPdeflator l.PegBandManaged_NoUnion l.Taxes_PerGDP l.BestCRtg l.cyrs l.dyrs l.v2x_polyarchy l.Left cn_* c.year##c.GlobalReserveLevels if  lvaw_garriga>=.64825
{p 0 6 2}{txt}note: cn_1 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_3 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_6 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_7 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_8 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_9 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_10 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_12 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_14 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_15 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_16 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_18 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_19 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_20 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_22 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_23 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_24 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_25 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_26 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_27 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_30 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_31 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_32 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_35 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_37 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_38 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_39 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_41 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_42 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_44 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_45 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_47 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_48 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_49 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_53 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_54 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_57 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_58 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_59 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_62 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_63 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_64 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_67 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_68 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_69 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_70 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_71 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_72 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_73 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_75 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_76 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_77 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_80 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_81 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_82 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_83 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_84 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_87 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_88 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_92 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_94 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_96 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_97 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_99 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_100 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_101 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_104 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_105 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_106 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_107 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_108 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_109 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_110 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_111 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_112 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_113 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_115 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_116 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_118 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_119 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_121 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_122 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_123 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_124 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_125 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_126 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_127 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_128 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_129 omitted because of collinearity{p_end}

      Source {c |}       SS           df       MS      Number of obs   ={res}       384
{txt}{hline 13}{c +}{hline 34}   F(62, 321)      = {res}     2.81
{txt}       Model {c |} {res} 261.969477        62  4.22531414   {txt}Prob > F        ={res}    0.0000
{txt}    Residual {c |} {res} 482.272431       321  1.50240633   {txt}R-squared       ={res}    0.3520
{txt}{hline 13}{c +}{hline 34}   Adj R-squared   ={res}    0.2268
{txt}       Total {c |} {res} 744.241908       383  1.94319036   {txt}Root MSE        =   {res} 1.2257

{txt}{hline 39}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}                 deltaReserves_Imports{col 40}{c |}      Coef.{col 52}   Std. Err.{col 64}      t{col 72}   P>|t|{col 80}     [95% Con{col 93}f. Interval]
{hline 39}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 24}ElectionPeriod {c |}{col 40}{res}{space 2} .8541556{col 52}{space 2} .3857236{col 63}{space 1}    2.21{col 72}{space 3}0.028{col 80}{space 4} .0952901{col 93}{space 3} 1.613021
{txt}{space 19}US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.8401544{col 52}{space 2} .1616845{col 63}{space 1}   -5.20{col 72}{space 3}0.000{col 80}{space 4} -1.15825{col 93}{space 3}-.5220593
{txt}{space 38} {c |}
c.ElectionPeriod#c.US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.2594365{col 52}{space 2} .1150986{col 63}{space 1}   -2.25{col 72}{space 3}0.025{col 80}{space 4}-.4858794{col 93}{space 3}-.0329937
{txt}{space 38} {c |}
{space 26}ElectionYear {c |}{col 40}{res}{space 2} .0884353{col 52}{space 2}  .212114{col 63}{space 1}    0.42{col 72}{space 3}0.677{col 80}{space 4} -.328874{col 93}{space 3} .5057446
{txt}{space 38} {c |}
{space 17}deltaReserves_Imports {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.4010617{col 52}{space 2} .0668708{col 63}{space 1}   -6.00{col 72}{space 3}0.000{col 80}{space 4} -.532622{col 93}{space 3}-.2695014
{txt}{space 38} {c |}
{space 31}GDPpcap {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0000515{col 52}{space 2} .0001231{col 63}{space 1}   -0.42{col 72}{space 3}0.676{col 80}{space 4}-.0002937{col 93}{space 3} .0001908
{txt}{space 38} {c |}
{space 29}GDPgrowth {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0341894{col 52}{space 2} .0187876{col 63}{space 1}    1.82{col 72}{space 3}0.070{col 80}{space 4}-.0027729{col 93}{space 3} .0711518
{txt}{space 38} {c |}
{space 21}ny_gdp_totl_rt_zs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0298157{col 52}{space 2} .0325967{col 63}{space 1}   -0.91{col 72}{space 3}0.361{col 80}{space 4}-.0939459{col 93}{space 3} .0343146
{txt}{space 38} {c |}
{space 20}CurrAcctBal_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0023558{col 52}{space 2} .0134904{col 63}{space 1}    0.17{col 72}{space 3}0.861{col 80}{space 4}-.0241849{col 93}{space 3} .0288965
{txt}{space 38} {c |}
{space 18}ExtDebtStocks_PerGNI {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0026879{col 52}{space 2} .0037735{col 63}{space 1}   -0.71{col 72}{space 3}0.477{col 80}{space 4}-.0101118{col 93}{space 3} .0047359
{txt}{space 38} {c |}
{space 20}DebtService_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-3.258506{col 52}{space 2} 5.806357{col 63}{space 1}   -0.56{col 72}{space 3}0.575{col 80}{space 4}-14.68183{col 93}{space 3} 8.164815
{txt}{space 38} {c |}
{space 14}Inflation_annGDPdeflator {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0135652{col 52}{space 2} .0108062{col 63}{space 1}   -1.26{col 72}{space 3}0.210{col 80}{space 4}-.0348251{col 93}{space 3} .0076946
{txt}{space 38} {c |}
{space 16}PegBandManaged_NoUnion {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .3545541{col 52}{space 2} .3142563{col 63}{space 1}    1.13{col 72}{space 3}0.260{col 80}{space 4}-.2637081{col 93}{space 3} .9728163
{txt}{space 38} {c |}
{space 26}Taxes_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} 11.10257{col 52}{space 2} 2.789159{col 63}{space 1}    3.98{col 72}{space 3}0.000{col 80}{space 4} 5.615227{col 93}{space 3} 16.58991
{txt}{space 38} {c |}
{space 30}BestCRtg {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} -.025708{col 52}{space 2}  .053403{col 63}{space 1}   -0.48{col 72}{space 3}0.631{col 80}{space 4} -.130772{col 93}{space 3}  .079356
{txt}{space 38} {c |}
{space 34}cyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}  .007501{col 52}{space 2} .0289405{col 63}{space 1}    0.26{col 72}{space 3}0.796{col 80}{space 4} -.049436{col 93}{space 3} .0644379
{txt}{space 38} {c |}
{space 34}dyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0076069{col 52}{space 2} .0253226{col 63}{space 1}    0.30{col 72}{space 3}0.764{col 80}{space 4}-.0422123{col 93}{space 3}  .057426
{txt}{space 38} {c |}
{space 25}v2x_polyarchy {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0481795{col 52}{space 2} 1.583723{col 63}{space 1}    0.03{col 72}{space 3}0.976{col 80}{space 4}-3.067609{col 93}{space 3} 3.163968
{txt}{space 38} {c |}
{space 31}LeftGov {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}  -.25806{col 52}{space 2} .1950571{col 63}{space 1}   -1.32{col 72}{space 3}0.187{col 80}{space 4}-.6418119{col 93}{space 3} .1256918
{txt}{space 38} {c |}
{space 34}cn_1 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_2 {c |}{col 40}{res}{space 2}  .732946{col 52}{space 2} 1.166382{col 63}{space 1}    0.63{col 72}{space 3}0.530{col 80}{space 4}-1.561773{col 93}{space 3} 3.027665
{txt}{space 34}cn_3 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_4 {c |}{col 40}{res}{space 2} 1.106431{col 52}{space 2} 1.349172{col 63}{space 1}    0.82{col 72}{space 3}0.413{col 80}{space 4}-1.547905{col 93}{space 3} 3.760767
{txt}{space 34}cn_5 {c |}{col 40}{res}{space 2} .4368349{col 52}{space 2} 1.848254{col 63}{space 1}    0.24{col 72}{space 3}0.813{col 80}{space 4}-3.199386{col 93}{space 3} 4.073055
{txt}{space 34}cn_6 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_7 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_8 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_9 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_10 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_11 {c |}{col 40}{res}{space 2} .5143075{col 52}{space 2} 1.019757{col 63}{space 1}    0.50{col 72}{space 3}0.614{col 80}{space 4}-1.491944{col 93}{space 3} 2.520559
{txt}{space 33}cn_12 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_13 {c |}{col 40}{res}{space 2} .7000577{col 52}{space 2} 1.153619{col 63}{space 1}    0.61{col 72}{space 3}0.544{col 80}{space 4} -1.56955{col 93}{space 3} 2.969666
{txt}{space 33}cn_14 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_15 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_16 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_17 {c |}{col 40}{res}{space 2}-.9774672{col 52}{space 2} 1.118539{col 63}{space 1}   -0.87{col 72}{space 3}0.383{col 80}{space 4} -3.17806{col 93}{space 3} 1.223125
{txt}{space 33}cn_18 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_19 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_20 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_21 {c |}{col 40}{res}{space 2}-2.135934{col 52}{space 2} 1.173965{col 63}{space 1}   -1.82{col 72}{space 3}0.070{col 80}{space 4}-4.445571{col 93}{space 3} .1737036
{txt}{space 33}cn_22 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_23 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_24 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_25 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_26 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_27 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_28 {c |}{col 40}{res}{space 2} 1.523011{col 52}{space 2} 1.305867{col 63}{space 1}    1.17{col 72}{space 3}0.244{col 80}{space 4}-1.046128{col 93}{space 3}  4.09215
{txt}{space 33}cn_29 {c |}{col 40}{res}{space 2} 2.245016{col 52}{space 2} 1.168172{col 63}{space 1}    1.92{col 72}{space 3}0.056{col 80}{space 4}-.0532236{col 93}{space 3} 4.543255
{txt}{space 33}cn_30 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_31 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_32 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_33 {c |}{col 40}{res}{space 2} .3599566{col 52}{space 2} 1.147417{col 63}{space 1}    0.31{col 72}{space 3}0.754{col 80}{space 4}-1.897451{col 93}{space 3} 2.617364
{txt}{space 33}cn_34 {c |}{col 40}{res}{space 2} .9849686{col 52}{space 2} 1.245513{col 63}{space 1}    0.79{col 72}{space 3}0.430{col 80}{space 4} -1.46543{col 93}{space 3} 3.435368
{txt}{space 33}cn_35 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_36 {c |}{col 40}{res}{space 2} 3.562738{col 52}{space 2} 1.554227{col 63}{space 1}    2.29{col 72}{space 3}0.023{col 80}{space 4}   .50498{col 93}{space 3} 6.620496
{txt}{space 33}cn_37 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_38 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_39 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_40 {c |}{col 40}{res}{space 2} 1.523643{col 52}{space 2}  1.18232{col 63}{space 1}    1.29{col 72}{space 3}0.198{col 80}{space 4}-.8024313{col 93}{space 3} 3.849717
{txt}{space 33}cn_41 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_42 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_43 {c |}{col 40}{res}{space 2} .6044757{col 52}{space 2} 1.367358{col 63}{space 1}    0.44{col 72}{space 3}0.659{col 80}{space 4} -2.08564{col 93}{space 3} 3.294591
{txt}{space 33}cn_44 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_45 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_46 {c |}{col 40}{res}{space 2}  1.15782{col 52}{space 2} 1.058583{col 63}{space 1}    1.09{col 72}{space 3}0.275{col 80}{space 4}-.9248166{col 93}{space 3} 3.240457
{txt}{space 33}cn_47 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_48 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_49 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_50 {c |}{col 40}{res}{space 2} .6564172{col 52}{space 2} 1.403159{col 63}{space 1}    0.47{col 72}{space 3}0.640{col 80}{space 4}-2.104133{col 93}{space 3} 3.416967
{txt}{space 33}cn_51 {c |}{col 40}{res}{space 2} .7058271{col 52}{space 2} 1.533508{col 63}{space 1}    0.46{col 72}{space 3}0.646{col 80}{space 4}-2.311168{col 93}{space 3} 3.722823
{txt}{space 33}cn_52 {c |}{col 40}{res}{space 2} .1369213{col 52}{space 2} 1.797378{col 63}{space 1}    0.08{col 72}{space 3}0.939{col 80}{space 4}-3.399208{col 93}{space 3} 3.673051
{txt}{space 33}cn_53 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_54 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_55 {c |}{col 40}{res}{space 2} 5.134475{col 52}{space 2} 1.830089{col 63}{space 1}    2.81{col 72}{space 3}0.005{col 80}{space 4} 1.533991{col 93}{space 3} 8.734958
{txt}{space 33}cn_56 {c |}{col 40}{res}{space 2} 1.597925{col 52}{space 2} 1.514989{col 63}{space 1}    1.05{col 72}{space 3}0.292{col 80}{space 4}-1.382637{col 93}{space 3} 4.578487
{txt}{space 33}cn_57 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_58 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_59 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_60 {c |}{col 40}{res}{space 2} .8026608{col 52}{space 2} 1.756712{col 63}{space 1}    0.46{col 72}{space 3}0.648{col 80}{space 4}-2.653462{col 93}{space 3} 4.258783
{txt}{space 33}cn_61 {c |}{col 40}{res}{space 2}-1.912699{col 52}{space 2} 1.235006{col 63}{space 1}   -1.55{col 72}{space 3}0.122{col 80}{space 4}-4.342426{col 93}{space 3} .5170282
{txt}{space 33}cn_62 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_63 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_64 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_65 {c |}{col 40}{res}{space 2} .6508613{col 52}{space 2} 1.202288{col 63}{space 1}    0.54{col 72}{space 3}0.589{col 80}{space 4}-1.714499{col 93}{space 3} 3.016222
{txt}{space 33}cn_66 {c |}{col 40}{res}{space 2} 1.546896{col 52}{space 2} 1.288711{col 63}{space 1}    1.20{col 72}{space 3}0.231{col 80}{space 4}-.9884903{col 93}{space 3} 4.082283
{txt}{space 33}cn_67 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_68 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_69 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_70 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_71 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_72 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_73 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_74 {c |}{col 40}{res}{space 2} 1.158373{col 52}{space 2} 1.637712{col 63}{space 1}    0.71{col 72}{space 3}0.480{col 80}{space 4} -2.06363{col 93}{space 3} 4.380377
{txt}{space 33}cn_75 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_76 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_77 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_78 {c |}{col 40}{res}{space 2} 1.450391{col 52}{space 2}   1.3739{col 63}{space 1}    1.06{col 72}{space 3}0.292{col 80}{space 4}-1.252595{col 93}{space 3} 4.153377
{txt}{space 33}cn_79 {c |}{col 40}{res}{space 2}  .010417{col 52}{space 2} 1.499024{col 63}{space 1}    0.01{col 72}{space 3}0.994{col 80}{space 4}-2.938736{col 93}{space 3}  2.95957
{txt}{space 33}cn_80 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_81 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_82 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_83 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_84 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_85 {c |}{col 40}{res}{space 2} 1.328161{col 52}{space 2} 1.322093{col 63}{space 1}    1.00{col 72}{space 3}0.316{col 80}{space 4}-1.272901{col 93}{space 3} 3.929223
{txt}{space 33}cn_86 {c |}{col 40}{res}{space 2} .0923338{col 52}{space 2} 1.531889{col 63}{space 1}    0.06{col 72}{space 3}0.952{col 80}{space 4}-2.921476{col 93}{space 3} 3.106144
{txt}{space 33}cn_87 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_88 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_89 {c |}{col 40}{res}{space 2} 3.285852{col 52}{space 2} 2.165143{col 63}{space 1}    1.52{col 72}{space 3}0.130{col 80}{space 4}-.9738118{col 93}{space 3} 7.545515
{txt}{space 33}cn_90 {c |}{col 40}{res}{space 2} 1.304004{col 52}{space 2} 1.099799{col 63}{space 1}    1.19{col 72}{space 3}0.237{col 80}{space 4} -.859721{col 93}{space 3} 3.467729
{txt}{space 33}cn_91 {c |}{col 40}{res}{space 2} 1.838013{col 52}{space 2} 1.310766{col 63}{space 1}    1.40{col 72}{space 3}0.162{col 80}{space 4}-.7407639{col 93}{space 3}  4.41679
{txt}{space 33}cn_92 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_93 {c |}{col 40}{res}{space 2} 2.132597{col 52}{space 2} 1.515115{col 63}{space 1}    1.41{col 72}{space 3}0.160{col 80}{space 4}-.8482131{col 93}{space 3} 5.113406
{txt}{space 33}cn_94 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_95 {c |}{col 40}{res}{space 2} 1.828974{col 52}{space 2}  1.23623{col 63}{space 1}    1.48{col 72}{space 3}0.140{col 80}{space 4}-.6031625{col 93}{space 3} 4.261111
{txt}{space 33}cn_96 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_97 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_98 {c |}{col 40}{res}{space 2} .9325175{col 52}{space 2} 1.057395{col 63}{space 1}    0.88{col 72}{space 3}0.378{col 80}{space 4}-1.147781{col 93}{space 3} 3.012816
{txt}{space 33}cn_99 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_100 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_101 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_102 {c |}{col 40}{res}{space 2} 2.182512{col 52}{space 2} 1.380372{col 63}{space 1}    1.58{col 72}{space 3}0.115{col 80}{space 4}-.5332072{col 93}{space 3} 4.898231
{txt}{space 32}cn_103 {c |}{col 40}{res}{space 2} .8000194{col 52}{space 2} 1.189013{col 63}{space 1}    0.67{col 72}{space 3}0.502{col 80}{space 4}-1.539223{col 93}{space 3} 3.139262
{txt}{space 32}cn_104 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_105 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_106 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_107 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_108 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_109 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_110 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_111 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_112 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_113 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_114 {c |}{col 40}{res}{space 2} 2.776674{col 52}{space 2} 3.060459{col 63}{space 1}    0.91{col 72}{space 3}0.365{col 80}{space 4}-3.244418{col 93}{space 3} 8.797765
{txt}{space 32}cn_115 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_116 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_117 {c |}{col 40}{res}{space 2} 1.075613{col 52}{space 2} 2.074995{col 63}{space 1}    0.52{col 72}{space 3}0.605{col 80}{space 4}-3.006694{col 93}{space 3} 5.157921
{txt}{space 32}cn_118 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_119 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_120 {c |}{col 40}{res}{space 2} .1095093{col 52}{space 2} 1.134886{col 63}{space 1}    0.10{col 72}{space 3}0.923{col 80}{space 4}-2.123244{col 93}{space 3} 2.342263
{txt}{space 32}cn_121 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_122 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_123 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_124 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_125 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_126 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_127 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_128 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_129 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}year {c |}{col 40}{res}{space 2}  .165457{col 52}{space 2} .1116625{col 63}{space 1}    1.48{col 72}{space 3}0.139{col 80}{space 4}-.0542257{col 93}{space 3} .3851398
{txt}{space 19}GlobalReserveLevels {c |}{col 40}{res}{space 2} 1.71e-11{col 52}{space 2} 1.47e-11{col 63}{space 1}    1.16{col 72}{space 3}0.246{col 80}{space 4}-1.19e-11{col 93}{space 3} 4.61e-11
{txt}{space 38} {c |}
{space 10}c.year#c.GlobalReserveLevels {c |}{col 40}{res}{space 2}-8.73e-15{col 52}{space 2} 7.37e-15{col 63}{space 1}   -1.19{col 72}{space 3}0.237{col 80}{space 4}-2.32e-14{col 93}{space 3} 5.76e-15
{txt}{space 38} {c |}
{space 33}_cons {c |}{col 40}{res}{space 2}-328.0072{col 52}{space 2} 223.3271{col 63}{space 1}   -1.47{col 72}{space 3}0.143{col 80}{space 4}-767.3769{col 93}{space 3} 111.3625
{txt}{hline 39}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store c1
{txt}
{com}. 
. regress deltaReserves_Imports c.ElectionPeriod##c.US10YrYields_AnnAvg ElectionYear l.deltaReserves_Imports l.GDPpcap l.GDPgrowth l.ny_gdp_totl_rt_zs l.CurrAcctBal_PerGDP l.ExtDebtStocks_PerGNI l.DebtService_PerGDP l.Inflation_annGDPdeflator l.PegBandManaged_NoUnion l.Taxes_PerGDP l.BestCRtg l.cyrs l.dyrs l.v2x_polyarchy l.Left cn_* c.year##c.GlobalReserveLevels if  lvaw_garriga<.64825
{p 0 6 2}{txt}note: cn_1 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_2 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_3 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_4 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_5 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_6 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_7 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_8 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_9 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_11 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_12 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_13 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_14 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_15 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_16 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_18 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_19 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_20 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_22 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_23 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_24 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_25 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_26 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_27 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_30 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_31 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_32 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_33 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_35 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_37 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_38 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_39 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_40 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_41 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_42 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_43 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_44 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_46 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_47 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_49 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_53 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_54 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_57 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_58 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_59 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_61 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_62 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_63 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_64 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_65 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_66 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_67 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_68 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_69 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_70 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_71 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_72 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_73 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_75 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_80 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_81 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_82 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_83 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_84 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_85 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_87 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_90 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_92 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_94 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_96 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_97 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_98 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_99 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_100 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_101 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_102 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_103 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_104 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_105 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_106 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_107 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_108 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_109 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_110 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_111 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_112 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_114 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_115 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_116 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_118 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_120 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_121 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_122 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_123 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_124 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_125 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_126 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_127 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_129 omitted because of collinearity{p_end}

      Source {c |}       SS           df       MS      Number of obs   ={res}       387
{txt}{hline 13}{c +}{hline 34}   F(52, 334)      = {res}     0.80
{txt}       Model {c |} {res} 59.6264258        52  1.14666204   {txt}Prob > F        ={res}    0.8403
{txt}    Residual {c |} {res} 480.795334       334  1.43950699   {txt}R-squared       ={res}    0.1103
{txt}{hline 13}{c +}{hline 34}   Adj R-squared   ={res}   -0.0282
{txt}       Total {c |} {res}  540.42176       386  1.40005637   {txt}Root MSE        =   {res} 1.1998

{txt}{hline 39}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}                 deltaReserves_Imports{col 40}{c |}      Coef.{col 52}   Std. Err.{col 64}      t{col 72}   P>|t|{col 80}     [95% Con{col 93}f. Interval]
{hline 39}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 24}ElectionPeriod {c |}{col 40}{res}{space 2} .5863119{col 52}{space 2} .4368846{col 63}{space 1}    1.34{col 72}{space 3}0.180{col 80}{space 4}-.2730803{col 93}{space 3} 1.445704
{txt}{space 19}US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.1651822{col 52}{space 2} .1522736{col 63}{space 1}   -1.08{col 72}{space 3}0.279{col 80}{space 4}-.4647183{col 93}{space 3}  .134354
{txt}{space 38} {c |}
c.ElectionPeriod#c.US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.2572396{col 52}{space 2} .1271008{col 63}{space 1}   -2.02{col 72}{space 3}0.044{col 80}{space 4}-.5072586{col 93}{space 3}-.0072207
{txt}{space 38} {c |}
{space 26}ElectionYear {c |}{col 40}{res}{space 2}  .057125{col 52}{space 2} .1976972{col 63}{space 1}    0.29{col 72}{space 3}0.773{col 80}{space 4}-.3317635{col 93}{space 3} .4460136
{txt}{space 38} {c |}
{space 17}deltaReserves_Imports {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.1687525{col 52}{space 2}  .055506{col 63}{space 1}   -3.04{col 72}{space 3}0.003{col 80}{space 4}-.2779378{col 93}{space 3}-.0595672
{txt}{space 38} {c |}
{space 31}GDPpcap {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}  .000228{col 52}{space 2} .0001228{col 63}{space 1}    1.86{col 72}{space 3}0.064{col 80}{space 4}-.0000136{col 93}{space 3} .0004695
{txt}{space 38} {c |}
{space 29}GDPgrowth {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0192432{col 52}{space 2} .0239869{col 63}{space 1}    0.80{col 72}{space 3}0.423{col 80}{space 4}-.0279413{col 93}{space 3} .0664277
{txt}{space 38} {c |}
{space 21}ny_gdp_totl_rt_zs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0028167{col 52}{space 2}  .022496{col 63}{space 1}   -0.13{col 72}{space 3}0.900{col 80}{space 4}-.0470683{col 93}{space 3} .0414349
{txt}{space 38} {c |}
{space 20}CurrAcctBal_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0074159{col 52}{space 2}  .011322{col 63}{space 1}    0.65{col 72}{space 3}0.513{col 80}{space 4}-.0148556{col 93}{space 3} .0296874
{txt}{space 38} {c |}
{space 18}ExtDebtStocks_PerGNI {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0024039{col 52}{space 2} .0020474{col 63}{space 1}   -1.17{col 72}{space 3}0.241{col 80}{space 4}-.0064312{col 93}{space 3} .0016235
{txt}{space 38} {c |}
{space 20}DebtService_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .1453562{col 52}{space 2} 2.515558{col 63}{space 1}    0.06{col 72}{space 3}0.954{col 80}{space 4}-4.802977{col 93}{space 3} 5.093689
{txt}{space 38} {c |}
{space 14}Inflation_annGDPdeflator {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0059964{col 52}{space 2}  .008061{col 63}{space 1}    0.74{col 72}{space 3}0.457{col 80}{space 4}-.0098604{col 93}{space 3} .0218531
{txt}{space 38} {c |}
{space 16}PegBandManaged_NoUnion {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0384596{col 52}{space 2} .2469369{col 63}{space 1}    0.16{col 72}{space 3}0.876{col 80}{space 4}-.4472881{col 93}{space 3} .5242073
{txt}{space 38} {c |}
{space 26}Taxes_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .2014516{col 52}{space 2} 4.644857{col 63}{space 1}    0.04{col 72}{space 3}0.965{col 80}{space 4} -8.93541{col 93}{space 3} 9.338313
{txt}{space 38} {c |}
{space 30}BestCRtg {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .1031198{col 52}{space 2} .0592874{col 63}{space 1}    1.74{col 72}{space 3}0.083{col 80}{space 4} -.013504{col 93}{space 3} .2197435
{txt}{space 38} {c |}
{space 34}cyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0064596{col 52}{space 2} .0235233{col 63}{space 1}    0.27{col 72}{space 3}0.784{col 80}{space 4}-.0398128{col 93}{space 3} .0527321
{txt}{space 38} {c |}
{space 34}dyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0257371{col 52}{space 2} .0188472{col 63}{space 1}   -1.37{col 72}{space 3}0.173{col 80}{space 4}-.0628113{col 93}{space 3} .0113371
{txt}{space 38} {c |}
{space 25}v2x_polyarchy {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.2236323{col 52}{space 2} 2.154262{col 63}{space 1}   -0.10{col 72}{space 3}0.917{col 80}{space 4}-4.461264{col 93}{space 3}    4.014
{txt}{space 38} {c |}
{space 31}LeftGov {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.1059675{col 52}{space 2} .2439243{col 63}{space 1}   -0.43{col 72}{space 3}0.664{col 80}{space 4} -.585789{col 93}{space 3}  .373854
{txt}{space 38} {c |}
{space 34}cn_1 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_2 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_3 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_4 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_5 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_6 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_7 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_8 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_9 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_10 {c |}{col 40}{res}{space 2}-.4269533{col 52}{space 2} .9433832{col 63}{space 1}   -0.45{col 72}{space 3}0.651{col 80}{space 4}-2.282675{col 93}{space 3} 1.428768
{txt}{space 33}cn_11 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_12 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_13 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_14 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_15 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_16 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_17 {c |}{col 40}{res}{space 2}-.3598549{col 52}{space 2} 1.406555{col 63}{space 1}   -0.26{col 72}{space 3}0.798{col 80}{space 4}-3.126678{col 93}{space 3} 2.406968
{txt}{space 33}cn_18 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_19 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_20 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_21 {c |}{col 40}{res}{space 2}-.7446073{col 52}{space 2} 1.213398{col 63}{space 1}   -0.61{col 72}{space 3}0.540{col 80}{space 4}-3.131472{col 93}{space 3} 1.642257
{txt}{space 33}cn_22 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_23 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_24 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_25 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_26 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_27 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_28 {c |}{col 40}{res}{space 2}-.6650412{col 52}{space 2} .8491484{col 63}{space 1}   -0.78{col 72}{space 3}0.434{col 80}{space 4}-2.335394{col 93}{space 3} 1.005312
{txt}{space 33}cn_29 {c |}{col 40}{res}{space 2}-1.027585{col 52}{space 2}  .817214{col 63}{space 1}   -1.26{col 72}{space 3}0.209{col 80}{space 4} -2.63512{col 93}{space 3} .5799502
{txt}{space 33}cn_30 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_31 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_32 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_33 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_34 {c |}{col 40}{res}{space 2} .1580278{col 52}{space 2} .7659713{col 63}{space 1}    0.21{col 72}{space 3}0.837{col 80}{space 4}-1.348708{col 93}{space 3} 1.664764
{txt}{space 33}cn_35 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_36 {c |}{col 40}{res}{space 2} .2529696{col 52}{space 2} 1.346851{col 63}{space 1}    0.19{col 72}{space 3}0.851{col 80}{space 4}-2.396411{col 93}{space 3}  2.90235
{txt}{space 33}cn_37 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_38 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_39 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_40 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_41 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_42 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_43 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_44 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_45 {c |}{col 40}{res}{space 2}-.0775128{col 52}{space 2} .8228774{col 63}{space 1}   -0.09{col 72}{space 3}0.925{col 80}{space 4}-1.696188{col 93}{space 3} 1.541163
{txt}{space 33}cn_46 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_47 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_48 {c |}{col 40}{res}{space 2} .8601525{col 52}{space 2} .8338117{col 63}{space 1}    1.03{col 72}{space 3}0.303{col 80}{space 4}-.7800318{col 93}{space 3} 2.500337
{txt}{space 33}cn_49 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_50 {c |}{col 40}{res}{space 2}-.2021073{col 52}{space 2} 1.116932{col 63}{space 1}   -0.18{col 72}{space 3}0.857{col 80}{space 4}-2.399215{col 93}{space 3} 1.995001
{txt}{space 33}cn_51 {c |}{col 40}{res}{space 2} .0423653{col 52}{space 2} .6255641{col 63}{space 1}    0.07{col 72}{space 3}0.946{col 80}{space 4}-1.188177{col 93}{space 3} 1.272907
{txt}{space 33}cn_52 {c |}{col 40}{res}{space 2} .1689465{col 52}{space 2} .6559001{col 63}{space 1}    0.26{col 72}{space 3}0.797{col 80}{space 4}-1.121269{col 93}{space 3} 1.459162
{txt}{space 33}cn_53 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_54 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_55 {c |}{col 40}{res}{space 2}-.1201868{col 52}{space 2} 1.122456{col 63}{space 1}   -0.11{col 72}{space 3}0.915{col 80}{space 4}-2.328161{col 93}{space 3} 2.087788
{txt}{space 33}cn_56 {c |}{col 40}{res}{space 2} .4821227{col 52}{space 2} .7741202{col 63}{space 1}    0.62{col 72}{space 3}0.534{col 80}{space 4}-1.040643{col 93}{space 3} 2.004888
{txt}{space 33}cn_57 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_58 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_59 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_60 {c |}{col 40}{res}{space 2}-.5257049{col 52}{space 2} .8693611{col 63}{space 1}   -0.60{col 72}{space 3}0.546{col 80}{space 4}-2.235818{col 93}{space 3} 1.184408
{txt}{space 33}cn_61 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_62 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_63 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_64 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_65 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_66 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_67 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_68 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_69 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_70 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_71 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_72 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_73 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_74 {c |}{col 40}{res}{space 2} .0686102{col 52}{space 2} .7203982{col 63}{space 1}    0.10{col 72}{space 3}0.924{col 80}{space 4}-1.348479{col 93}{space 3}   1.4857
{txt}{space 33}cn_75 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_76 {c |}{col 40}{res}{space 2} .6496982{col 52}{space 2} .6269419{col 63}{space 1}    1.04{col 72}{space 3}0.301{col 80}{space 4}-.5835542{col 93}{space 3} 1.882951
{txt}{space 33}cn_77 {c |}{col 40}{res}{space 2} .9477066{col 52}{space 2} 1.053025{col 63}{space 1}    0.90{col 72}{space 3}0.369{col 80}{space 4} -1.12369{col 93}{space 3} 3.019103
{txt}{space 33}cn_78 {c |}{col 40}{res}{space 2}-.6891348{col 52}{space 2} 1.269769{col 63}{space 1}   -0.54{col 72}{space 3}0.588{col 80}{space 4}-3.186888{col 93}{space 3} 1.808618
{txt}{space 33}cn_79 {c |}{col 40}{res}{space 2}-.2833261{col 52}{space 2}   .58014{col 63}{space 1}   -0.49{col 72}{space 3}0.626{col 80}{space 4}-1.424515{col 93}{space 3} .8578626
{txt}{space 33}cn_80 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_81 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_82 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_83 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_84 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_85 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_86 {c |}{col 40}{res}{space 2}-.2836252{col 52}{space 2} .7915415{col 63}{space 1}   -0.36{col 72}{space 3}0.720{col 80}{space 4} -1.84066{col 93}{space 3}  1.27341
{txt}{space 33}cn_87 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_88 {c |}{col 40}{res}{space 2}-.2633243{col 52}{space 2} .9678274{col 63}{space 1}   -0.27{col 72}{space 3}0.786{col 80}{space 4} -2.16713{col 93}{space 3} 1.640481
{txt}{space 33}cn_89 {c |}{col 40}{res}{space 2}-1.491643{col 52}{space 2} 1.613631{col 63}{space 1}   -0.92{col 72}{space 3}0.356{col 80}{space 4}-4.665804{col 93}{space 3} 1.682518
{txt}{space 33}cn_90 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_91 {c |}{col 40}{res}{space 2} .2490299{col 52}{space 2} .6567871{col 63}{space 1}    0.38{col 72}{space 3}0.705{col 80}{space 4}-1.042931{col 93}{space 3} 1.540991
{txt}{space 33}cn_92 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_93 {c |}{col 40}{res}{space 2} .1547922{col 52}{space 2} .5668442{col 63}{space 1}    0.27{col 72}{space 3}0.785{col 80}{space 4}-.9602424{col 93}{space 3} 1.269827
{txt}{space 33}cn_94 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_95 {c |}{col 40}{res}{space 2}-.3229973{col 52}{space 2} .7470439{col 63}{space 1}   -0.43{col 72}{space 3}0.666{col 80}{space 4}-1.792501{col 93}{space 3} 1.146507
{txt}{space 33}cn_96 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_97 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_98 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_99 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_100 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_101 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_102 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_103 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_104 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_105 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_106 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_107 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_108 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_109 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_110 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_111 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_112 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_113 {c |}{col 40}{res}{space 2}-.6174824{col 52}{space 2}  .900241{col 63}{space 1}   -0.69{col 72}{space 3}0.493{col 80}{space 4}-2.388339{col 93}{space 3} 1.153374
{txt}{space 32}cn_114 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_115 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_116 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_117 {c |}{col 40}{res}{space 2}-.1378414{col 52}{space 2}  1.40679{col 63}{space 1}   -0.10{col 72}{space 3}0.922{col 80}{space 4}-2.905126{col 93}{space 3} 2.629443
{txt}{space 32}cn_118 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_119 {c |}{col 40}{res}{space 2}-.3082292{col 52}{space 2} .6127829{col 63}{space 1}   -0.50{col 72}{space 3}0.615{col 80}{space 4} -1.51363{col 93}{space 3} .8971711
{txt}{space 32}cn_120 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_121 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_122 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_123 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_124 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_125 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_126 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_127 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_128 {c |}{col 40}{res}{space 2} .0452891{col 52}{space 2} 1.159539{col 63}{space 1}    0.04{col 72}{space 3}0.969{col 80}{space 4}-2.235631{col 93}{space 3}  2.32621
{txt}{space 32}cn_129 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}year {c |}{col 40}{res}{space 2} .0743225{col 52}{space 2} .0963785{col 63}{space 1}    0.77{col 72}{space 3}0.441{col 80}{space 4}-.1152628{col 93}{space 3} .2639079
{txt}{space 19}GlobalReserveLevels {c |}{col 40}{res}{space 2} 1.68e-11{col 52}{space 2} 1.41e-11{col 63}{space 1}    1.19{col 72}{space 3}0.236{col 80}{space 4}-1.10e-11{col 93}{space 3} 4.45e-11
{txt}{space 38} {c |}
{space 10}c.year#c.GlobalReserveLevels {c |}{col 40}{res}{space 2}-8.42e-15{col 52}{space 2} 7.05e-15{col 63}{space 1}   -1.19{col 72}{space 3}0.233{col 80}{space 4}-2.23e-14{col 93}{space 3} 5.45e-15
{txt}{space 38} {c |}
{space 33}_cons {c |}{col 40}{res}{space 2}-149.1336{col 52}{space 2} 192.7648{col 63}{space 1}   -0.77{col 72}{space 3}0.440{col 80}{space 4}-528.3196{col 93}{space 3} 230.0525
{txt}{hline 39}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store c2
{txt}
{com}. 
. 
. suest c1 c2
{res}
{txt}Simultaneous results for {stata estimates replay c1:c1}, {stata estimates replay c2:c2}

{col 49}Number of obs{col 67}= {res}       771

{txt}{hline 39}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 40}{c |}{col 52}    Robust
{col 40}{c |}      Coef.{col 52}   Std. Err.{col 64}      z{col 72}   P>|z|{col 80}     [95% Con{col 93}f. Interval]
{hline 39}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}c1_mean                                {txt}{c |}
{space 24}ElectionPeriod {c |}{col 40}{res}{space 2} .8541556{col 52}{space 2} .3924626{col 63}{space 1}    2.18{col 72}{space 3}0.030{col 80}{space 4} .0849431{col 93}{space 3} 1.623368
{txt}{space 19}US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.8401544{col 52}{space 2}  .140015{col 63}{space 1}   -6.00{col 72}{space 3}0.000{col 80}{space 4}-1.114579{col 93}{space 3}  -.56573
{txt}{space 38} {c |}
c.ElectionPeriod#c.US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.2594365{col 52}{space 2} .1063786{col 63}{space 1}   -2.44{col 72}{space 3}0.015{col 80}{space 4}-.4679349{col 93}{space 3}-.0509382
{txt}{space 38} {c |}
{space 26}ElectionYear {c |}{col 40}{res}{space 2} .0884353{col 52}{space 2} .1775719{col 63}{space 1}    0.50{col 72}{space 3}0.618{col 80}{space 4}-.2595992{col 93}{space 3} .4364698
{txt}{space 38} {c |}
{space 17}deltaReserves_Imports {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.4010617{col 52}{space 2} .0836006{col 63}{space 1}   -4.80{col 72}{space 3}0.000{col 80}{space 4}-.5649158{col 93}{space 3}-.2372076
{txt}{space 38} {c |}
{space 31}GDPpcap {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0000515{col 52}{space 2} .0000988{col 63}{space 1}   -0.52{col 72}{space 3}0.603{col 80}{space 4}-.0002452{col 93}{space 3} .0001423
{txt}{space 38} {c |}
{space 29}GDPgrowth {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0341894{col 52}{space 2} .0173607{col 63}{space 1}    1.97{col 72}{space 3}0.049{col 80}{space 4} .0001631{col 93}{space 3} .0682158
{txt}{space 38} {c |}
{space 21}ny_gdp_totl_rt_zs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0298157{col 52}{space 2} .0309325{col 63}{space 1}   -0.96{col 72}{space 3}0.335{col 80}{space 4}-.0904422{col 93}{space 3} .0308109
{txt}{space 38} {c |}
{space 20}CurrAcctBal_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0023558{col 52}{space 2} .0124071{col 63}{space 1}    0.19{col 72}{space 3}0.849{col 80}{space 4}-.0219616{col 93}{space 3} .0266732
{txt}{space 38} {c |}
{space 18}ExtDebtStocks_PerGNI {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0026879{col 52}{space 2} .0036446{col 63}{space 1}   -0.74{col 72}{space 3}0.461{col 80}{space 4}-.0098313{col 93}{space 3} .0044554
{txt}{space 38} {c |}
{space 20}DebtService_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-3.258506{col 52}{space 2} 6.165168{col 63}{space 1}   -0.53{col 72}{space 3}0.597{col 80}{space 4}-15.34201{col 93}{space 3} 8.825001
{txt}{space 38} {c |}
{space 14}Inflation_annGDPdeflator {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0135652{col 52}{space 2} .0183678{col 63}{space 1}   -0.74{col 72}{space 3}0.460{col 80}{space 4}-.0495655{col 93}{space 3} .0224351
{txt}{space 38} {c |}
{space 16}PegBandManaged_NoUnion {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .3545541{col 52}{space 2} .2896959{col 63}{space 1}    1.22{col 72}{space 3}0.221{col 80}{space 4}-.2132395{col 93}{space 3} .9223477
{txt}{space 38} {c |}
{space 26}Taxes_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} 11.10257{col 52}{space 2} 2.995997{col 63}{space 1}    3.71{col 72}{space 3}0.000{col 80}{space 4} 5.230521{col 93}{space 3} 16.97461
{txt}{space 38} {c |}
{space 30}BestCRtg {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} -.025708{col 52}{space 2} .0410704{col 63}{space 1}   -0.63{col 72}{space 3}0.531{col 80}{space 4}-.1062045{col 93}{space 3} .0547886
{txt}{space 38} {c |}
{space 34}cyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}  .007501{col 52}{space 2} .0270701{col 63}{space 1}    0.28{col 72}{space 3}0.782{col 80}{space 4}-.0455555{col 93}{space 3} .0605574
{txt}{space 38} {c |}
{space 34}dyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0076069{col 52}{space 2} .0172391{col 63}{space 1}    0.44{col 72}{space 3}0.659{col 80}{space 4}-.0261812{col 93}{space 3}  .041395
{txt}{space 38} {c |}
{space 25}v2x_polyarchy {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0481795{col 52}{space 2} 1.131108{col 63}{space 1}    0.04{col 72}{space 3}0.966{col 80}{space 4}-2.168752{col 93}{space 3} 2.265111
{txt}{space 38} {c |}
{space 31}LeftGov {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}  -.25806{col 52}{space 2} .1621292{col 63}{space 1}   -1.59{col 72}{space 3}0.111{col 80}{space 4}-.5758275{col 93}{space 3} .0597074
{txt}{space 38} {c |}
{space 34}cn_1 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_2 {c |}{col 40}{res}{space 2}  .732946{col 52}{space 2} .9128084{col 63}{space 1}    0.80{col 72}{space 3}0.422{col 80}{space 4}-1.056126{col 93}{space 3} 2.522017
{txt}{space 34}cn_3 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_4 {c |}{col 40}{res}{space 2} 1.106431{col 52}{space 2} .9993134{col 63}{space 1}    1.11{col 72}{space 3}0.268{col 80}{space 4}-.8521871{col 93}{space 3} 3.065049
{txt}{space 34}cn_5 {c |}{col 40}{res}{space 2} .4368349{col 52}{space 2} 1.111603{col 63}{space 1}    0.39{col 72}{space 3}0.694{col 80}{space 4}-1.741866{col 93}{space 3} 2.615536
{txt}{space 34}cn_6 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_7 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_8 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_9 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_10 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_11 {c |}{col 40}{res}{space 2} .5143075{col 52}{space 2} .7971827{col 63}{space 1}    0.65{col 72}{space 3}0.519{col 80}{space 4}-1.048142{col 93}{space 3} 2.076757
{txt}{space 33}cn_12 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_13 {c |}{col 40}{res}{space 2} .7000577{col 52}{space 2} .9000534{col 63}{space 1}    0.78{col 72}{space 3}0.437{col 80}{space 4}-1.064015{col 93}{space 3}  2.46413
{txt}{space 33}cn_14 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_15 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_16 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_17 {c |}{col 40}{res}{space 2}-.9774672{col 52}{space 2} 1.161552{col 63}{space 1}   -0.84{col 72}{space 3}0.400{col 80}{space 4}-3.254067{col 93}{space 3} 1.299133
{txt}{space 33}cn_18 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_19 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_20 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_21 {c |}{col 40}{res}{space 2}-2.135934{col 52}{space 2} .6926936{col 63}{space 1}   -3.08{col 72}{space 3}0.002{col 80}{space 4}-3.493588{col 93}{space 3}-.7782791
{txt}{space 33}cn_22 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_23 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_24 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_25 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_26 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_27 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_28 {c |}{col 40}{res}{space 2} 1.523011{col 52}{space 2} .8477173{col 63}{space 1}    1.80{col 72}{space 3}0.072{col 80}{space 4}-.1384843{col 93}{space 3} 3.184507
{txt}{space 33}cn_29 {c |}{col 40}{res}{space 2} 2.245016{col 52}{space 2}  .855091{col 63}{space 1}    2.63{col 72}{space 3}0.009{col 80}{space 4} .5690683{col 93}{space 3} 3.920963
{txt}{space 33}cn_30 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_31 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_32 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_33 {c |}{col 40}{res}{space 2} .3599566{col 52}{space 2}  .905558{col 63}{space 1}    0.40{col 72}{space 3}0.691{col 80}{space 4}-1.414904{col 93}{space 3} 2.134818
{txt}{space 33}cn_34 {c |}{col 40}{res}{space 2} .9849686{col 52}{space 2} .9453386{col 63}{space 1}    1.04{col 72}{space 3}0.297{col 80}{space 4}-.8678611{col 93}{space 3} 2.837798
{txt}{space 33}cn_35 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_36 {c |}{col 40}{res}{space 2} 3.562738{col 52}{space 2} 1.484072{col 63}{space 1}    2.40{col 72}{space 3}0.016{col 80}{space 4} .6540107{col 93}{space 3} 6.471465
{txt}{space 33}cn_37 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_38 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_39 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_40 {c |}{col 40}{res}{space 2} 1.523643{col 52}{space 2}  1.03331{col 63}{space 1}    1.47{col 72}{space 3}0.140{col 80}{space 4}-.5016067{col 93}{space 3} 3.548892
{txt}{space 33}cn_41 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_42 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_43 {c |}{col 40}{res}{space 2} .6044757{col 52}{space 2} 1.143365{col 63}{space 1}    0.53{col 72}{space 3}0.597{col 80}{space 4}-1.636479{col 93}{space 3} 2.845431
{txt}{space 33}cn_44 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_45 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_46 {c |}{col 40}{res}{space 2}  1.15782{col 52}{space 2} .9117673{col 63}{space 1}    1.27{col 72}{space 3}0.204{col 80}{space 4}-.6292107{col 93}{space 3} 2.944851
{txt}{space 33}cn_47 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_48 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_49 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_50 {c |}{col 40}{res}{space 2} .6564172{col 52}{space 2} 1.031732{col 63}{space 1}    0.64{col 72}{space 3}0.525{col 80}{space 4}-1.365741{col 93}{space 3} 2.678575
{txt}{space 33}cn_51 {c |}{col 40}{res}{space 2} .7058271{col 52}{space 2} 1.186683{col 63}{space 1}    0.59{col 72}{space 3}0.552{col 80}{space 4}-1.620029{col 93}{space 3} 3.031683
{txt}{space 33}cn_52 {c |}{col 40}{res}{space 2} .1369213{col 52}{space 2} 1.112359{col 63}{space 1}    0.12{col 72}{space 3}0.902{col 80}{space 4}-2.043262{col 93}{space 3} 2.317104
{txt}{space 33}cn_53 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_54 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_55 {c |}{col 40}{res}{space 2} 5.134475{col 52}{space 2} 3.587843{col 63}{space 1}    1.43{col 72}{space 3}0.152{col 80}{space 4}-1.897567{col 93}{space 3} 12.16652
{txt}{space 33}cn_56 {c |}{col 40}{res}{space 2} 1.597925{col 52}{space 2} 1.317062{col 63}{space 1}    1.21{col 72}{space 3}0.225{col 80}{space 4}-.9834689{col 93}{space 3} 4.179319
{txt}{space 33}cn_57 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_58 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_59 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_60 {c |}{col 40}{res}{space 2} .8026608{col 52}{space 2} 1.427047{col 63}{space 1}    0.56{col 72}{space 3}0.574{col 80}{space 4}  -1.9943{col 93}{space 3} 3.599622
{txt}{space 33}cn_61 {c |}{col 40}{res}{space 2}-1.912699{col 52}{space 2} .9934702{col 63}{space 1}   -1.93{col 72}{space 3}0.054{col 80}{space 4}-3.859865{col 93}{space 3} .0344666
{txt}{space 33}cn_62 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_63 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_64 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_65 {c |}{col 40}{res}{space 2} .6508613{col 52}{space 2} 1.015196{col 63}{space 1}    0.64{col 72}{space 3}0.521{col 80}{space 4}-1.338885{col 93}{space 3} 2.640608
{txt}{space 33}cn_66 {c |}{col 40}{res}{space 2} 1.546896{col 52}{space 2} 1.147891{col 63}{space 1}    1.35{col 72}{space 3}0.178{col 80}{space 4}-.7029277{col 93}{space 3} 3.796721
{txt}{space 33}cn_67 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_68 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_69 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_70 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_71 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_72 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_73 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_74 {c |}{col 40}{res}{space 2} 1.158373{col 52}{space 2} 1.309269{col 63}{space 1}    0.88{col 72}{space 3}0.376{col 80}{space 4}-1.407746{col 93}{space 3} 3.724493
{txt}{space 33}cn_75 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_76 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_77 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_78 {c |}{col 40}{res}{space 2} 1.450391{col 52}{space 2} 1.043827{col 63}{space 1}    1.39{col 72}{space 3}0.165{col 80}{space 4}-.5954722{col 93}{space 3} 3.496254
{txt}{space 33}cn_79 {c |}{col 40}{res}{space 2}  .010417{col 52}{space 2} 1.058178{col 63}{space 1}    0.01{col 72}{space 3}0.992{col 80}{space 4}-2.063574{col 93}{space 3} 2.084408
{txt}{space 33}cn_80 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_81 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_82 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_83 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_84 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_85 {c |}{col 40}{res}{space 2} 1.328161{col 52}{space 2}  1.19186{col 63}{space 1}    1.11{col 72}{space 3}0.265{col 80}{space 4}-1.007842{col 93}{space 3} 3.664163
{txt}{space 33}cn_86 {c |}{col 40}{res}{space 2} .0923338{col 52}{space 2} 2.275586{col 63}{space 1}    0.04{col 72}{space 3}0.968{col 80}{space 4}-4.367733{col 93}{space 3}   4.5524
{txt}{space 33}cn_87 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_88 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_89 {c |}{col 40}{res}{space 2} 3.285852{col 52}{space 2} 1.962766{col 63}{space 1}    1.67{col 72}{space 3}0.094{col 80}{space 4}-.5610981{col 93}{space 3} 7.132802
{txt}{space 33}cn_90 {c |}{col 40}{res}{space 2} 1.304004{col 52}{space 2} .9105733{col 63}{space 1}    1.43{col 72}{space 3}0.152{col 80}{space 4}-.4806871{col 93}{space 3} 3.088695
{txt}{space 33}cn_91 {c |}{col 40}{res}{space 2} 1.838013{col 52}{space 2} 1.470956{col 63}{space 1}    1.25{col 72}{space 3}0.211{col 80}{space 4}-1.045007{col 93}{space 3} 4.721034
{txt}{space 33}cn_92 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_93 {c |}{col 40}{res}{space 2} 2.132597{col 52}{space 2} 1.174711{col 63}{space 1}    1.82{col 72}{space 3}0.069{col 80}{space 4}-.1697955{col 93}{space 3} 4.434988
{txt}{space 33}cn_94 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_95 {c |}{col 40}{res}{space 2} 1.828974{col 52}{space 2}  1.11924{col 63}{space 1}    1.63{col 72}{space 3}0.102{col 80}{space 4}-.3646961{col 93}{space 3} 4.022645
{txt}{space 33}cn_96 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_97 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_98 {c |}{col 40}{res}{space 2} .9325175{col 52}{space 2} .7955382{col 63}{space 1}    1.17{col 72}{space 3}0.241{col 80}{space 4}-.6267087{col 93}{space 3} 2.491744
{txt}{space 33}cn_99 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_100 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_101 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_102 {c |}{col 40}{res}{space 2} 2.182512{col 52}{space 2} 1.258938{col 63}{space 1}    1.73{col 72}{space 3}0.083{col 80}{space 4}-.2849605{col 93}{space 3} 4.649985
{txt}{space 32}cn_103 {c |}{col 40}{res}{space 2} .8000194{col 52}{space 2}  .961135{col 63}{space 1}    0.83{col 72}{space 3}0.405{col 80}{space 4}-1.083771{col 93}{space 3} 2.683809
{txt}{space 32}cn_104 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_105 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_106 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_107 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_108 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_109 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_110 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_111 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_112 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_113 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_114 {c |}{col 40}{res}{space 2} 2.776674{col 52}{space 2} 2.768496{col 63}{space 1}    1.00{col 72}{space 3}0.316{col 80}{space 4}-2.649479{col 93}{space 3} 8.202826
{txt}{space 32}cn_115 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_116 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_117 {c |}{col 40}{res}{space 2} 1.075613{col 52}{space 2} 1.912644{col 63}{space 1}    0.56{col 72}{space 3}0.574{col 80}{space 4}-2.673101{col 93}{space 3} 4.824327
{txt}{space 32}cn_118 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_119 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_120 {c |}{col 40}{res}{space 2} .1095093{col 52}{space 2} .9422014{col 63}{space 1}    0.12{col 72}{space 3}0.907{col 80}{space 4}-1.737172{col 93}{space 3}  1.95619
{txt}{space 32}cn_121 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_122 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_123 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_124 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_125 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_126 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_127 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_128 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_129 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}year {c |}{col 40}{res}{space 2}  .165457{col 52}{space 2} .0862935{col 63}{space 1}    1.92{col 72}{space 3}0.055{col 80}{space 4}-.0036751{col 93}{space 3} .3345892
{txt}{space 19}GlobalReserveLevels {c |}{col 40}{res}{space 2} 1.71e-11{col 52}{space 2} 1.15e-11{col 63}{space 1}    1.49{col 72}{space 3}0.137{col 80}{space 4}-5.45e-12{col 93}{space 3} 3.97e-11
{txt}{space 38} {c |}
{space 10}c.year#c.GlobalReserveLevels {c |}{col 40}{res}{space 2}-8.73e-15{col 52}{space 2} 5.75e-15{col 63}{space 1}   -1.52{col 72}{space 3}0.129{col 80}{space 4}-2.00e-14{col 93}{space 3} 2.54e-15
{txt}{space 38} {c |}
{space 33}_cons {c |}{col 40}{res}{space 2}-328.0072{col 52}{space 2} 172.8381{col 63}{space 1}   -1.90{col 72}{space 3}0.058{col 80}{space 4}-666.7637{col 93}{space 3} 10.74927
{txt}{hline 39}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}c1_lnvar                               {txt}{c |}
{space 33}_cons {c |}{col 40}{res}{space 2}  .407068{col 52}{space 2} .1128113{col 63}{space 1}    3.61{col 72}{space 3}0.000{col 80}{space 4} .1859619{col 93}{space 3} .6281742
{txt}{hline 39}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}c2_mean                                {txt}{c |}
{space 24}ElectionPeriod {c |}{col 40}{res}{space 2} .5863119{col 52}{space 2} .3453792{col 63}{space 1}    1.70{col 72}{space 3}0.090{col 80}{space 4}-.0906188{col 93}{space 3} 1.263243
{txt}{space 19}US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.1651822{col 52}{space 2} .1319799{col 63}{space 1}   -1.25{col 72}{space 3}0.211{col 80}{space 4} -.423858{col 93}{space 3} .0934936
{txt}{space 38} {c |}
c.ElectionPeriod#c.US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.2572396{col 52}{space 2} .1070828{col 63}{space 1}   -2.40{col 72}{space 3}0.016{col 80}{space 4} -.467118{col 93}{space 3}-.0473612
{txt}{space 38} {c |}
{space 26}ElectionYear {c |}{col 40}{res}{space 2}  .057125{col 52}{space 2} .1875306{col 63}{space 1}    0.30{col 72}{space 3}0.761{col 80}{space 4}-.3104282{col 93}{space 3} .4246783
{txt}{space 38} {c |}
{space 17}deltaReserves_Imports {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.1687525{col 52}{space 2} .0752847{col 63}{space 1}   -2.24{col 72}{space 3}0.025{col 80}{space 4}-.3163078{col 93}{space 3}-.0211972
{txt}{space 38} {c |}
{space 31}GDPpcap {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}  .000228{col 52}{space 2} .0000764{col 63}{space 1}    2.98{col 72}{space 3}0.003{col 80}{space 4} .0000781{col 93}{space 3} .0003778
{txt}{space 38} {c |}
{space 29}GDPgrowth {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0192432{col 52}{space 2} .0336784{col 63}{space 1}    0.57{col 72}{space 3}0.568{col 80}{space 4}-.0467653{col 93}{space 3} .0852517
{txt}{space 38} {c |}
{space 21}ny_gdp_totl_rt_zs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0028167{col 52}{space 2} .0244515{col 63}{space 1}   -0.12{col 72}{space 3}0.908{col 80}{space 4}-.0507407{col 93}{space 3} .0451073
{txt}{space 38} {c |}
{space 20}CurrAcctBal_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0074159{col 52}{space 2} .0109866{col 63}{space 1}    0.67{col 72}{space 3}0.500{col 80}{space 4}-.0141175{col 93}{space 3} .0289492
{txt}{space 38} {c |}
{space 18}ExtDebtStocks_PerGNI {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0024039{col 52}{space 2} .0013393{col 63}{space 1}   -1.79{col 72}{space 3}0.073{col 80}{space 4}-.0050289{col 93}{space 3} .0002211
{txt}{space 38} {c |}
{space 20}DebtService_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .1453562{col 52}{space 2} 1.175881{col 63}{space 1}    0.12{col 72}{space 3}0.902{col 80}{space 4}-2.159327{col 93}{space 3}  2.45004
{txt}{space 38} {c |}
{space 14}Inflation_annGDPdeflator {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0059964{col 52}{space 2} .0084847{col 63}{space 1}    0.71{col 72}{space 3}0.480{col 80}{space 4}-.0106334{col 93}{space 3} .0226261
{txt}{space 38} {c |}
{space 16}PegBandManaged_NoUnion {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0384596{col 52}{space 2} .2099623{col 63}{space 1}    0.18{col 72}{space 3}0.855{col 80}{space 4} -.373059{col 93}{space 3} .4499782
{txt}{space 38} {c |}
{space 26}Taxes_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .2014516{col 52}{space 2} 4.865642{col 63}{space 1}    0.04{col 72}{space 3}0.967{col 80}{space 4}-9.335032{col 93}{space 3} 9.737935
{txt}{space 38} {c |}
{space 30}BestCRtg {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .1031198{col 52}{space 2} .0488731{col 63}{space 1}    2.11{col 72}{space 3}0.035{col 80}{space 4} .0073302{col 93}{space 3} .1989093
{txt}{space 38} {c |}
{space 34}cyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0064596{col 52}{space 2} .0172582{col 63}{space 1}    0.37{col 72}{space 3}0.708{col 80}{space 4}-.0273658{col 93}{space 3} .0402851
{txt}{space 38} {c |}
{space 34}dyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0257371{col 52}{space 2} .0145917{col 63}{space 1}   -1.76{col 72}{space 3}0.078{col 80}{space 4}-.0543362{col 93}{space 3}  .002862
{txt}{space 38} {c |}
{space 25}v2x_polyarchy {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.2236323{col 52}{space 2} 1.959087{col 63}{space 1}   -0.11{col 72}{space 3}0.909{col 80}{space 4}-4.063372{col 93}{space 3} 3.616108
{txt}{space 38} {c |}
{space 31}LeftGov {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.1059675{col 52}{space 2} .2239959{col 63}{space 1}   -0.47{col 72}{space 3}0.636{col 80}{space 4}-.5449914{col 93}{space 3} .3330564
{txt}{space 38} {c |}
{space 34}cn_1 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_2 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_3 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_4 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_5 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_6 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_7 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_8 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_9 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_10 {c |}{col 40}{res}{space 2}-.4269533{col 52}{space 2} .7056733{col 63}{space 1}   -0.61{col 72}{space 3}0.545{col 80}{space 4}-1.810047{col 93}{space 3} .9561409
{txt}{space 33}cn_11 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_12 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_13 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_14 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_15 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_16 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_17 {c |}{col 40}{res}{space 2}-.3598549{col 52}{space 2}  1.28032{col 63}{space 1}   -0.28{col 72}{space 3}0.779{col 80}{space 4}-2.869236{col 93}{space 3} 2.149526
{txt}{space 33}cn_18 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_19 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_20 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_21 {c |}{col 40}{res}{space 2}-.7446073{col 52}{space 2} 1.169259{col 63}{space 1}   -0.64{col 72}{space 3}0.524{col 80}{space 4}-3.036313{col 93}{space 3} 1.547099
{txt}{space 33}cn_22 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_23 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_24 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_25 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_26 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_27 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_28 {c |}{col 40}{res}{space 2}-.6650412{col 52}{space 2} .7138025{col 63}{space 1}   -0.93{col 72}{space 3}0.351{col 80}{space 4}-2.064068{col 93}{space 3} .7339861
{txt}{space 33}cn_29 {c |}{col 40}{res}{space 2}-1.027585{col 52}{space 2} .6020253{col 63}{space 1}   -1.71{col 72}{space 3}0.088{col 80}{space 4}-2.207533{col 93}{space 3} .1523631
{txt}{space 33}cn_30 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_31 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_32 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_33 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_34 {c |}{col 40}{res}{space 2} .1580278{col 52}{space 2} .6905402{col 63}{space 1}    0.23{col 72}{space 3}0.819{col 80}{space 4}-1.195406{col 93}{space 3} 1.511462
{txt}{space 33}cn_35 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_36 {c |}{col 40}{res}{space 2} .2529696{col 52}{space 2} .6280657{col 63}{space 1}    0.40{col 72}{space 3}0.687{col 80}{space 4}-.9780165{col 93}{space 3} 1.483956
{txt}{space 33}cn_37 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_38 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_39 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_40 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_41 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_42 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_43 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_44 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_45 {c |}{col 40}{res}{space 2}-.0775128{col 52}{space 2} .7785625{col 63}{space 1}   -0.10{col 72}{space 3}0.921{col 80}{space 4}-1.603467{col 93}{space 3} 1.448442
{txt}{space 33}cn_46 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_47 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_48 {c |}{col 40}{res}{space 2} .8601525{col 52}{space 2} .7593038{col 63}{space 1}    1.13{col 72}{space 3}0.257{col 80}{space 4}-.6280555{col 93}{space 3} 2.348361
{txt}{space 33}cn_49 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_50 {c |}{col 40}{res}{space 2}-.2021073{col 52}{space 2} 1.036697{col 63}{space 1}   -0.19{col 72}{space 3}0.845{col 80}{space 4}-2.233996{col 93}{space 3} 1.829782
{txt}{space 33}cn_51 {c |}{col 40}{res}{space 2} .0423653{col 52}{space 2} .5264432{col 63}{space 1}    0.08{col 72}{space 3}0.936{col 80}{space 4}-.9894445{col 93}{space 3} 1.074175
{txt}{space 33}cn_52 {c |}{col 40}{res}{space 2} .1689465{col 52}{space 2} .4865946{col 63}{space 1}    0.35{col 72}{space 3}0.728{col 80}{space 4}-.7847614{col 93}{space 3} 1.122654
{txt}{space 33}cn_53 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_54 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_55 {c |}{col 40}{res}{space 2}-.1201868{col 52}{space 2} .8467762{col 63}{space 1}   -0.14{col 72}{space 3}0.887{col 80}{space 4}-1.779838{col 93}{space 3} 1.539464
{txt}{space 33}cn_56 {c |}{col 40}{res}{space 2} .4821227{col 52}{space 2} .6970233{col 63}{space 1}    0.69{col 72}{space 3}0.489{col 80}{space 4}-.8840179{col 93}{space 3} 1.848263
{txt}{space 33}cn_57 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_58 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_59 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_60 {c |}{col 40}{res}{space 2}-.5257049{col 52}{space 2} .6644894{col 63}{space 1}   -0.79{col 72}{space 3}0.429{col 80}{space 4} -1.82808{col 93}{space 3} .7766704
{txt}{space 33}cn_61 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_62 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_63 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_64 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_65 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_66 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_67 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_68 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_69 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_70 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_71 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_72 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_73 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_74 {c |}{col 40}{res}{space 2} .0686102{col 52}{space 2}  .684603{col 63}{space 1}    0.10{col 72}{space 3}0.920{col 80}{space 4}-1.273187{col 93}{space 3} 1.410407
{txt}{space 33}cn_75 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_76 {c |}{col 40}{res}{space 2} .6496982{col 52}{space 2} .5304834{col 63}{space 1}    1.22{col 72}{space 3}0.221{col 80}{space 4}-.3900301{col 93}{space 3} 1.689427
{txt}{space 33}cn_77 {c |}{col 40}{res}{space 2} .9477066{col 52}{space 2} .6826005{col 63}{space 1}    1.39{col 72}{space 3}0.165{col 80}{space 4}-.3901658{col 93}{space 3} 2.285579
{txt}{space 33}cn_78 {c |}{col 40}{res}{space 2}-.6891348{col 52}{space 2} 1.079141{col 63}{space 1}   -0.64{col 72}{space 3}0.523{col 80}{space 4}-2.804211{col 93}{space 3} 1.425942
{txt}{space 33}cn_79 {c |}{col 40}{res}{space 2}-.2833261{col 52}{space 2}  .541692{col 63}{space 1}   -0.52{col 72}{space 3}0.601{col 80}{space 4}-1.345023{col 93}{space 3} .7783707
{txt}{space 33}cn_80 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_81 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_82 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_83 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_84 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_85 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_86 {c |}{col 40}{res}{space 2}-.2836252{col 52}{space 2} .8901582{col 63}{space 1}   -0.32{col 72}{space 3}0.750{col 80}{space 4}-2.028303{col 93}{space 3} 1.461053
{txt}{space 33}cn_87 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_88 {c |}{col 40}{res}{space 2}-.2633243{col 52}{space 2} .7961334{col 63}{space 1}   -0.33{col 72}{space 3}0.741{col 80}{space 4}-1.823717{col 93}{space 3} 1.297068
{txt}{space 33}cn_89 {c |}{col 40}{res}{space 2}-1.491643{col 52}{space 2}  1.23215{col 63}{space 1}   -1.21{col 72}{space 3}0.226{col 80}{space 4}-3.906613{col 93}{space 3} .9233271
{txt}{space 33}cn_90 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_91 {c |}{col 40}{res}{space 2} .2490299{col 52}{space 2} .5797446{col 63}{space 1}    0.43{col 72}{space 3}0.668{col 80}{space 4}-.8872485{col 93}{space 3} 1.385308
{txt}{space 33}cn_92 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_93 {c |}{col 40}{res}{space 2} .1547922{col 52}{space 2} .4937459{col 63}{space 1}    0.31{col 72}{space 3}0.754{col 80}{space 4} -.812932{col 93}{space 3} 1.122516
{txt}{space 33}cn_94 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_95 {c |}{col 40}{res}{space 2}-.3229973{col 52}{space 2} .6595275{col 63}{space 1}   -0.49{col 72}{space 3}0.624{col 80}{space 4}-1.615647{col 93}{space 3} .9696528
{txt}{space 33}cn_96 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_97 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_98 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_99 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_100 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_101 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_102 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_103 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_104 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_105 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_106 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_107 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_108 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_109 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_110 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_111 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_112 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_113 {c |}{col 40}{res}{space 2}-.6174824{col 52}{space 2} .6936075{col 63}{space 1}   -0.89{col 72}{space 3}0.373{col 80}{space 4}-1.976928{col 93}{space 3} .7419633
{txt}{space 32}cn_114 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_115 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_116 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_117 {c |}{col 40}{res}{space 2}-.1378414{col 52}{space 2} 1.151142{col 63}{space 1}   -0.12{col 72}{space 3}0.905{col 80}{space 4}-2.394038{col 93}{space 3} 2.118355
{txt}{space 32}cn_118 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_119 {c |}{col 40}{res}{space 2}-.3082292{col 52}{space 2} .6040046{col 63}{space 1}   -0.51{col 72}{space 3}0.610{col 80}{space 4}-1.492056{col 93}{space 3}  .875598
{txt}{space 32}cn_120 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_121 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_122 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_123 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_124 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_125 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_126 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_127 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_128 {c |}{col 40}{res}{space 2} .0452891{col 52}{space 2} 1.028762{col 63}{space 1}    0.04{col 72}{space 3}0.965{col 80}{space 4}-1.971047{col 93}{space 3} 2.061625
{txt}{space 32}cn_129 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}year {c |}{col 40}{res}{space 2} .0743225{col 52}{space 2} .0778771{col 63}{space 1}    0.95{col 72}{space 3}0.340{col 80}{space 4}-.0783137{col 93}{space 3} .2269587
{txt}{space 19}GlobalReserveLevels {c |}{col 40}{res}{space 2} 1.68e-11{col 52}{space 2} 1.34e-11{col 63}{space 1}    1.25{col 72}{space 3}0.211{col 80}{space 4}-9.49e-12{col 93}{space 3} 4.30e-11
{txt}{space 38} {c |}
{space 10}c.year#c.GlobalReserveLevels {c |}{col 40}{res}{space 2}-8.42e-15{col 52}{space 2} 6.69e-15{col 63}{space 1}   -1.26{col 72}{space 3}0.208{col 80}{space 4}-2.15e-14{col 93}{space 3} 4.69e-15
{txt}{space 38} {c |}
{space 33}_cons {c |}{col 40}{res}{space 2}-149.1336{col 52}{space 2} 155.9266{col 63}{space 1}   -0.96{col 72}{space 3}0.339{col 80}{space 4}-454.7442{col 93}{space 3}  156.477
{txt}{hline 39}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}c2_lnvar                               {txt}{c |}
{space 33}_cons {c |}{col 40}{res}{space 2} .3643007{col 52}{space 2} .0921425{col 63}{space 1}    3.95{col 72}{space 3}0.000{col 80}{space 4} .1837047{col 93}{space 3} .5448966
{txt}{hline 39}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

{com}. 
. test [c1_mean]c.ElectionPeriod#c.US10YrYields_AnnAvg = [c2_mean]c.ElectionPeriod#c.US10YrYields_AnnAvg

{p 0 7}{space 1}{text:( 1)}{space 1} {res}[c1_mean]c.ElectionPeriod#c.US10YrYields_AnnAvg - [c2_mean]c.ElectionPeriod#c.US10YrYields_AnnAvg = 0{p_end}

{txt}{col 12}chi2(  1) ={res}    0.00
{txt}{col 10}Prob > chi2 =  {res}  0.9884
{txt}
{com}. 
. 
. regress deltaReserves_Imports c.ElectionPeriod##c.US10YrYields_AnnAvg ElectionYear l.deltaReserves_Imports l.GDPpcap l.GDPgrowth l.ny_gdp_totl_rt_zs l.CurrAcctBal_PerGDP l.ExtDebtStocks_PerGNI l.DebtService_PerGDP l.Inflation_annGDPdeflator  l.lvaw_garriga l.Taxes_PerGDP l.BestCRtg l.cyrs l.dyrs l.v2x_polyarchy l.Left cn_* c.year##c.GlobalReserveLevels if  PegBandManaged_NoUnion==1, robust
{p 0 6 2}{txt}note: cn_1 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_2 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_3 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_5 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_6 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_7 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_8 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_9 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_10 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_11 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_12 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_13 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_14 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_15 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_16 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_18 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_19 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_20 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_22 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_23 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_24 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_25 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_26 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_27 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_29 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_30 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_31 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_32 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_33 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_35 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_36 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_37 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_38 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_39 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_40 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_41 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_42 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_43 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_44 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_45 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_47 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_49 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_50 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_51 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_53 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_54 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_55 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_56 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_57 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_58 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_59 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_60 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_61 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_62 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_63 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_64 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_67 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_68 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_69 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_70 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_71 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_72 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_73 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_74 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_75 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_77 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_78 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_80 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_81 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_82 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_83 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_84 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_85 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_87 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_88 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_89 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_92 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_94 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_96 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_97 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_99 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_100 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_101 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_102 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_103 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_104 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_105 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_106 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_107 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_108 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_109 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_110 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_111 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_112 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_114 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_115 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_116 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_117 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_118 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_121 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_122 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_123 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_124 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_125 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_126 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_127 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_129 omitted because of collinearity{p_end}

Linear regression                               Number of obs     = {res}       186
                                                {txt}{help j_robustsingular:F(41, 141) }       =  {res}        .
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.2531
                                                {txt}Root MSE          =    {res} 1.0873

{txt}{hline 39}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 40}{c |}{col 52}    Robust
{col 1}                 deltaReserves_Imports{col 40}{c |}      Coef.{col 52}   Std. Err.{col 64}      t{col 72}   P>|t|{col 80}     [95% Con{col 93}f. Interval]
{hline 39}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 24}ElectionPeriod {c |}{col 40}{res}{space 2} -.171759{col 52}{space 2} .5154163{col 63}{space 1}   -0.33{col 72}{space 3}0.739{col 80}{space 4}-1.190702{col 93}{space 3} .8471837
{txt}{space 19}US10YrYields_AnnAvg {c |}{col 40}{res}{space 2} -.193063{col 52}{space 2} .2331534{col 63}{space 1}   -0.83{col 72}{space 3}0.409{col 80}{space 4}-.6539913{col 93}{space 3} .2678652
{txt}{space 38} {c |}
c.ElectionPeriod#c.US10YrYields_AnnAvg {c |}{col 40}{res}{space 2} .0154563{col 52}{space 2} .1587472{col 63}{space 1}    0.10{col 72}{space 3}0.923{col 80}{space 4}-.2983759{col 93}{space 3} .3292886
{txt}{space 38} {c |}
{space 26}ElectionYear {c |}{col 40}{res}{space 2}-.0873066{col 52}{space 2} .2662281{col 63}{space 1}   -0.33{col 72}{space 3}0.743{col 80}{space 4}-.6136213{col 93}{space 3} .4390081
{txt}{space 38} {c |}
{space 17}deltaReserves_Imports {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} -.337671{col 52}{space 2} .1131799{col 63}{space 1}   -2.98{col 72}{space 3}0.003{col 80}{space 4}-.5614198{col 93}{space 3}-.1139222
{txt}{space 38} {c |}
{space 31}GDPpcap {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0003591{col 52}{space 2} .0003232{col 63}{space 1}    1.11{col 72}{space 3}0.268{col 80}{space 4}-.0002798{col 93}{space 3}  .000998
{txt}{space 38} {c |}
{space 29}GDPgrowth {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0514651{col 52}{space 2} .0348718{col 63}{space 1}   -1.48{col 72}{space 3}0.142{col 80}{space 4}-.1204042{col 93}{space 3}  .017474
{txt}{space 38} {c |}
{space 21}ny_gdp_totl_rt_zs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} -.026013{col 52}{space 2} .0514449{col 63}{space 1}   -0.51{col 72}{space 3}0.614{col 80}{space 4}-.1277161{col 93}{space 3} .0756901
{txt}{space 38} {c |}
{space 20}CurrAcctBal_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0146479{col 52}{space 2} .0257094{col 63}{space 1}   -0.57{col 72}{space 3}0.570{col 80}{space 4}-.0654736{col 93}{space 3} .0361778
{txt}{space 38} {c |}
{space 18}ExtDebtStocks_PerGNI {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0124962{col 52}{space 2} .0047691{col 63}{space 1}   -2.62{col 72}{space 3}0.010{col 80}{space 4}-.0219245{col 93}{space 3} -.003068
{txt}{space 38} {c |}
{space 20}DebtService_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} 16.05591{col 52}{space 2} 11.73908{col 63}{space 1}    1.37{col 72}{space 3}0.174{col 80}{space 4} -7.15144{col 93}{space 3} 39.26327
{txt}{space 38} {c |}
{space 14}Inflation_annGDPdeflator {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0222709{col 52}{space 2} .0141749{col 63}{space 1}    1.57{col 72}{space 3}0.118{col 80}{space 4}-.0057519{col 93}{space 3} .0502936
{txt}{space 38} {c |}
{space 26}lvaw_garriga {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-2.225744{col 52}{space 2} 2.665752{col 63}{space 1}   -0.83{col 72}{space 3}0.405{col 80}{space 4}-7.495753{col 93}{space 3} 3.044265
{txt}{space 38} {c |}
{space 26}Taxes_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} 8.975739{col 52}{space 2} 7.258572{col 63}{space 1}    1.24{col 72}{space 3}0.218{col 80}{space 4} -5.37396{col 93}{space 3} 23.32544
{txt}{space 38} {c |}
{space 30}BestCRtg {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0470731{col 52}{space 2} .0769567{col 63}{space 1}    0.61{col 72}{space 3}0.542{col 80}{space 4} -.105065{col 93}{space 3} .1992111
{txt}{space 38} {c |}
{space 34}cyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0237274{col 52}{space 2}  .026728{col 63}{space 1}    0.89{col 72}{space 3}0.376{col 80}{space 4} -.029112{col 93}{space 3} .0765667
{txt}{space 38} {c |}
{space 34}dyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0129528{col 52}{space 2} .0333383{col 63}{space 1}   -0.39{col 72}{space 3}0.698{col 80}{space 4}-.0788603{col 93}{space 3} .0529547
{txt}{space 38} {c |}
{space 25}v2x_polyarchy {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} 1.652972{col 52}{space 2} 5.176089{col 63}{space 1}    0.32{col 72}{space 3}0.750{col 80}{space 4}-8.579801{col 93}{space 3} 11.88575
{txt}{space 38} {c |}
{space 31}LeftGov {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .1848935{col 52}{space 2} .3440666{col 63}{space 1}    0.54{col 72}{space 3}0.592{col 80}{space 4}-.4953025{col 93}{space 3} .8650895
{txt}{space 38} {c |}
{space 34}cn_1 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_2 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_3 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_4 {c |}{col 40}{res}{space 2}-5.727825{col 52}{space 2} 4.657915{col 63}{space 1}   -1.23{col 72}{space 3}0.221{col 80}{space 4} -14.9362{col 93}{space 3} 3.480554
{txt}{space 34}cn_5 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_6 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_7 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_8 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_9 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_10 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_11 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_12 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_13 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_14 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_15 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_16 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_17 {c |}{col 40}{res}{space 2}-4.450137{col 52}{space 2} 3.236554{col 63}{space 1}   -1.37{col 72}{space 3}0.171{col 80}{space 4}-10.84858{col 93}{space 3} 1.948309
{txt}{space 33}cn_18 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_19 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_20 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_21 {c |}{col 40}{res}{space 2}-3.145619{col 52}{space 2} 2.365026{col 63}{space 1}   -1.33{col 72}{space 3}0.186{col 80}{space 4}-7.821113{col 93}{space 3} 1.529875
{txt}{space 33}cn_22 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_23 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_24 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_25 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_26 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_27 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_28 {c |}{col 40}{res}{space 2} -2.35306{col 52}{space 2} 2.071673{col 63}{space 1}   -1.14{col 72}{space 3}0.258{col 80}{space 4}-6.448615{col 93}{space 3} 1.742495
{txt}{space 33}cn_29 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_30 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_31 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_32 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_33 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_34 {c |}{col 40}{res}{space 2}-.2708186{col 52}{space 2} 1.494156{col 63}{space 1}   -0.18{col 72}{space 3}0.856{col 80}{space 4}-3.224662{col 93}{space 3} 2.683025
{txt}{space 33}cn_35 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_36 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_37 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_38 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_39 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_40 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_41 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_42 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_43 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_44 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_45 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_46 {c |}{col 40}{res}{space 2} .1398627{col 52}{space 2} 1.872809{col 63}{space 1}    0.07{col 72}{space 3}0.941{col 80}{space 4}-3.562553{col 93}{space 3} 3.842278
{txt}{space 33}cn_47 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_48 {c |}{col 40}{res}{space 2} -2.48814{col 52}{space 2} 1.561664{col 63}{space 1}   -1.59{col 72}{space 3}0.113{col 80}{space 4}-5.575442{col 93}{space 3} .5991616
{txt}{space 33}cn_49 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_50 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_51 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_52 {c |}{col 40}{res}{space 2} .5001407{col 52}{space 2} .7489645{col 63}{space 1}    0.67{col 72}{space 3}0.505{col 80}{space 4}-.9805108{col 93}{space 3} 1.980792
{txt}{space 33}cn_53 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_54 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_55 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_56 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_57 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_58 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_59 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_60 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_61 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_62 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_63 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_64 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_65 {c |}{col 40}{res}{space 2}-1.118582{col 52}{space 2} 1.421812{col 63}{space 1}   -0.79{col 72}{space 3}0.433{col 80}{space 4}-3.929407{col 93}{space 3} 1.692244
{txt}{space 33}cn_66 {c |}{col 40}{res}{space 2}  1.10881{col 52}{space 2} .9937487{col 63}{space 1}    1.12{col 72}{space 3}0.266{col 80}{space 4}-.8557631{col 93}{space 3} 3.073383
{txt}{space 33}cn_67 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_68 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_69 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_70 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_71 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_72 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_73 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_74 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_75 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_76 {c |}{col 40}{res}{space 2} .3909542{col 52}{space 2} 1.001218{col 63}{space 1}    0.39{col 72}{space 3}0.697{col 80}{space 4}-1.588386{col 93}{space 3} 2.370294
{txt}{space 33}cn_77 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_78 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_79 {c |}{col 40}{res}{space 2} -.025721{col 52}{space 2} .9522833{col 63}{space 1}   -0.03{col 72}{space 3}0.978{col 80}{space 4} -1.90832{col 93}{space 3} 1.856878
{txt}{space 33}cn_80 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_81 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_82 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_83 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_84 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_85 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_86 {c |}{col 40}{res}{space 2}-.5592313{col 52}{space 2} 1.264765{col 63}{space 1}   -0.44{col 72}{space 3}0.659{col 80}{space 4}-3.059585{col 93}{space 3} 1.941123
{txt}{space 33}cn_87 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_88 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_89 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_90 {c |}{col 40}{res}{space 2}-1.703477{col 52}{space 2}  2.68486{col 63}{space 1}   -0.63{col 72}{space 3}0.527{col 80}{space 4}-7.011261{col 93}{space 3} 3.604308
{txt}{space 33}cn_91 {c |}{col 40}{res}{space 2}-.3296975{col 52}{space 2} 1.080471{col 63}{space 1}   -0.31{col 72}{space 3}0.761{col 80}{space 4}-2.465715{col 93}{space 3}  1.80632
{txt}{space 33}cn_92 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_93 {c |}{col 40}{res}{space 2} 1.121523{col 52}{space 2} 1.210115{col 63}{space 1}    0.93{col 72}{space 3}0.356{col 80}{space 4}-1.270792{col 93}{space 3} 3.513837
{txt}{space 33}cn_94 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_95 {c |}{col 40}{res}{space 2}-.6420181{col 52}{space 2} 1.735614{col 63}{space 1}   -0.37{col 72}{space 3}0.712{col 80}{space 4}-4.073207{col 93}{space 3} 2.789171
{txt}{space 33}cn_96 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_97 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_98 {c |}{col 40}{res}{space 2}-1.362873{col 52}{space 2} 2.200344{col 63}{space 1}   -0.62{col 72}{space 3}0.537{col 80}{space 4}-5.712802{col 93}{space 3} 2.987056
{txt}{space 33}cn_99 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_100 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_101 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_102 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_103 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_104 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_105 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_106 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_107 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_108 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_109 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_110 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_111 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_112 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_113 {c |}{col 40}{res}{space 2}-2.516557{col 52}{space 2}  1.38396{col 63}{space 1}   -1.82{col 72}{space 3}0.071{col 80}{space 4} -5.25255{col 93}{space 3} .2194365
{txt}{space 32}cn_114 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_115 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_116 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_117 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_118 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_119 {c |}{col 40}{res}{space 2}-.8067119{col 52}{space 2} .9075195{col 63}{space 1}   -0.89{col 72}{space 3}0.376{col 80}{space 4}-2.600816{col 93}{space 3} .9873921
{txt}{space 32}cn_120 {c |}{col 40}{res}{space 2} .1514792{col 52}{space 2} 1.447462{col 63}{space 1}    0.10{col 72}{space 3}0.917{col 80}{space 4}-2.710055{col 93}{space 3} 3.013013
{txt}{space 32}cn_121 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_122 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_123 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_124 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_125 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_126 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_127 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_128 {c |}{col 40}{res}{space 2}-3.417598{col 52}{space 2} 2.372409{col 63}{space 1}   -1.44{col 72}{space 3}0.152{col 80}{space 4}-8.107689{col 93}{space 3} 1.272492
{txt}{space 32}cn_129 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}year {c |}{col 40}{res}{space 2} .1734493{col 52}{space 2} .1344282{col 63}{space 1}    1.29{col 72}{space 3}0.199{col 80}{space 4}-.0923061{col 93}{space 3} .4392047
{txt}{space 19}GlobalReserveLevels {c |}{col 40}{res}{space 2} 4.35e-11{col 52}{space 2} 2.31e-11{col 63}{space 1}    1.88{col 72}{space 3}0.063{col 80}{space 4}-2.30e-12{col 93}{space 3} 8.92e-11
{txt}{space 38} {c |}
{space 10}c.year#c.GlobalReserveLevels {c |}{col 40}{res}{space 2}-2.17e-14{col 52}{space 2} 1.15e-14{col 63}{space 1}   -1.88{col 72}{space 3}0.062{col 80}{space 4}-4.45e-14{col 93}{space 3} 1.13e-15
{txt}{space 38} {c |}
{space 33}_cons {c |}{col 40}{res}{space 2} -347.903{col 52}{space 2} 270.2111{col 63}{space 1}   -1.29{col 72}{space 3}0.200{col 80}{space 4}-882.0919{col 93}{space 3} 186.2858
{txt}{hline 39}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store c3a
{txt}
{com}. 
. regress deltaReserves_Imports c.ElectionPeriod##c.US10YrYields_AnnAvg ElectionYear l.deltaReserves_Imports l.GDPpcap l.GDPgrowth l.ny_gdp_totl_rt_zs l.CurrAcctBal_PerGDP l.ExtDebtStocks_PerGNI l.DebtService_PerGDP l.Inflation_annGDPdeflator l.lvaw_garriga l.Taxes_PerGDP l.BestCRtg l.cyrs l.dyrs l.v2x_polyarchy l.Left cn_* c.year##c.GlobalReserveLevels if  PegBandManaged_NoUnion==0, robust
{p 0 6 2}{txt}note: cn_1 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_3 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_6 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_7 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_8 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_9 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_12 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_14 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_15 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_16 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_17 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_18 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_19 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_20 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_22 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_23 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_24 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_25 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_26 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_27 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_30 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_31 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_32 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_35 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_37 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_38 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_39 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_41 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_42 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_44 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_47 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_49 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_53 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_54 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_57 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_58 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_59 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_62 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_63 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_64 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_66 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_67 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_68 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_69 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_70 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_71 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_72 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_73 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_75 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_80 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_81 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_82 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_83 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_84 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_87 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_92 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_94 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_95 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_96 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_97 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_99 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_100 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_101 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_104 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_105 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_106 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_107 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_108 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_109 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_110 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_111 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_112 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_113 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_115 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_116 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_118 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_120 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_121 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_122 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_123 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_124 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_125 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_126 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_127 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_128 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_129 omitted because of collinearity{p_end}

Linear regression                               Number of obs     = {res}       514
                                                {txt}{help j_robustsingular:F(63, 448) }       =  {res}        .
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.1274
                                                {txt}Root MSE          =    {res} 1.0688

{txt}{hline 39}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 40}{c |}{col 52}    Robust
{col 1}                 deltaReserves_Imports{col 40}{c |}      Coef.{col 52}   Std. Err.{col 64}      t{col 72}   P>|t|{col 80}     [95% Con{col 93}f. Interval]
{hline 39}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 24}ElectionPeriod {c |}{col 40}{res}{space 2} .6718341{col 52}{space 2} .2766438{col 63}{space 1}    2.43{col 72}{space 3}0.016{col 80}{space 4} .1281535{col 93}{space 3} 1.215515
{txt}{space 19}US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.1415594{col 52}{space 2} .1045687{col 63}{space 1}   -1.35{col 72}{space 3}0.177{col 80}{space 4}-.3470655{col 93}{space 3} .0639468
{txt}{space 38} {c |}
c.ElectionPeriod#c.US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.2814278{col 52}{space 2} .0850599{col 63}{space 1}   -3.31{col 72}{space 3}0.001{col 80}{space 4}-.4485937{col 93}{space 3}-.1142618
{txt}{space 38} {c |}
{space 26}ElectionYear {c |}{col 40}{res}{space 2} .2173371{col 52}{space 2}  .152536{col 63}{space 1}    1.42{col 72}{space 3}0.155{col 80}{space 4}-.0824377{col 93}{space 3}  .517112
{txt}{space 38} {c |}
{space 17}deltaReserves_Imports {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.1401898{col 52}{space 2} .0673709{col 63}{space 1}   -2.08{col 72}{space 3}0.038{col 80}{space 4} -.272592{col 93}{space 3}-.0077877
{txt}{space 38} {c |}
{space 31}GDPpcap {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0000847{col 52}{space 2} .0000624{col 63}{space 1}    1.36{col 72}{space 3}0.175{col 80}{space 4}-.0000378{col 93}{space 3} .0002073
{txt}{space 38} {c |}
{space 29}GDPgrowth {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0133424{col 52}{space 2} .0209015{col 63}{space 1}    0.64{col 72}{space 3}0.524{col 80}{space 4}-.0277348{col 93}{space 3} .0544196
{txt}{space 38} {c |}
{space 21}ny_gdp_totl_rt_zs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0109683{col 52}{space 2} .0224892{col 63}{space 1}   -0.49{col 72}{space 3}0.626{col 80}{space 4}-.0551657{col 93}{space 3} .0332292
{txt}{space 38} {c |}
{space 20}CurrAcctBal_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0016214{col 52}{space 2} .0092319{col 63}{space 1}   -0.18{col 72}{space 3}0.861{col 80}{space 4}-.0197646{col 93}{space 3} .0165218
{txt}{space 38} {c |}
{space 18}ExtDebtStocks_PerGNI {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0005231{col 52}{space 2} .0012782{col 63}{space 1}    0.41{col 72}{space 3}0.683{col 80}{space 4}-.0019889{col 93}{space 3} .0030351
{txt}{space 38} {c |}
{space 20}DebtService_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-1.543782{col 52}{space 2} 1.113614{col 63}{space 1}   -1.39{col 72}{space 3}0.166{col 80}{space 4}-3.732339{col 93}{space 3} .6447749
{txt}{space 38} {c |}
{space 14}Inflation_annGDPdeflator {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0097212{col 52}{space 2} .0076526{col 63}{space 1}    1.27{col 72}{space 3}0.205{col 80}{space 4}-.0053182{col 93}{space 3} .0247606
{txt}{space 38} {c |}
{space 26}lvaw_garriga {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .1400592{col 52}{space 2} .7053982{col 63}{space 1}    0.20{col 72}{space 3}0.843{col 80}{space 4}-1.246241{col 93}{space 3} 1.526359
{txt}{space 38} {c |}
{space 26}Taxes_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} 5.589182{col 52}{space 2} 2.813219{col 63}{space 1}    1.99{col 72}{space 3}0.048{col 80}{space 4} .0604376{col 93}{space 3} 11.11793
{txt}{space 38} {c |}
{space 30}BestCRtg {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0880848{col 52}{space 2} .0350972{col 63}{space 1}    2.51{col 72}{space 3}0.012{col 80}{space 4} .0191091{col 93}{space 3} .1570604
{txt}{space 38} {c |}
{space 34}cyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0449045{col 52}{space 2} .0271882{col 63}{space 1}    1.65{col 72}{space 3}0.099{col 80}{space 4}-.0085279{col 93}{space 3} .0983368
{txt}{space 38} {c |}
{space 34}dyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0260173{col 52}{space 2} .0133771{col 63}{space 1}   -1.94{col 72}{space 3}0.052{col 80}{space 4} -.052307{col 93}{space 3} .0002724
{txt}{space 38} {c |}
{space 25}v2x_polyarchy {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.1747807{col 52}{space 2} 1.081389{col 63}{space 1}   -0.16{col 72}{space 3}0.872{col 80}{space 4}-2.300005{col 93}{space 3} 1.950444
{txt}{space 38} {c |}
{space 31}LeftGov {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.1579223{col 52}{space 2} .1429029{col 63}{space 1}   -1.11{col 72}{space 3}0.270{col 80}{space 4}-.4387656{col 93}{space 3}  .122921
{txt}{space 38} {c |}
{space 34}cn_1 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_2 {c |}{col 40}{res}{space 2} .2770512{col 52}{space 2} .5290699{col 63}{space 1}    0.52{col 72}{space 3}0.601{col 80}{space 4}-.7627158{col 93}{space 3} 1.316818
{txt}{space 34}cn_3 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_4 {c |}{col 40}{res}{space 2}-.5428711{col 52}{space 2}  .816358{col 63}{space 1}   -0.66{col 72}{space 3}0.506{col 80}{space 4}-2.147238{col 93}{space 3} 1.061495
{txt}{space 34}cn_5 {c |}{col 40}{res}{space 2}-.4651395{col 52}{space 2} .6267582{col 63}{space 1}   -0.74{col 72}{space 3}0.458{col 80}{space 4}-1.696891{col 93}{space 3} .7666117
{txt}{space 34}cn_6 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_7 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_8 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_9 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_10 {c |}{col 40}{res}{space 2}-.0670244{col 52}{space 2} 1.051833{col 63}{space 1}   -0.06{col 72}{space 3}0.949{col 80}{space 4}-2.134164{col 93}{space 3} 2.000116
{txt}{space 33}cn_11 {c |}{col 40}{res}{space 2} .4560522{col 52}{space 2} .5530346{col 63}{space 1}    0.82{col 72}{space 3}0.410{col 80}{space 4}-.6308118{col 93}{space 3} 1.542916
{txt}{space 33}cn_12 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_13 {c |}{col 40}{res}{space 2} .2022629{col 52}{space 2} .5241295{col 63}{space 1}    0.39{col 72}{space 3}0.700{col 80}{space 4}-.8277948{col 93}{space 3} 1.232321
{txt}{space 33}cn_14 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_15 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_16 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_17 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_18 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_19 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_20 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_21 {c |}{col 40}{res}{space 2}-.0719041{col 52}{space 2} 1.061936{col 63}{space 1}   -0.07{col 72}{space 3}0.946{col 80}{space 4}-2.158899{col 93}{space 3} 2.015091
{txt}{space 33}cn_22 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_23 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_24 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_25 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_26 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_27 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_28 {c |}{col 40}{res}{space 2} .7937311{col 52}{space 2} .6085089{col 63}{space 1}    1.30{col 72}{space 3}0.193{col 80}{space 4}-.4021552{col 93}{space 3} 1.989617
{txt}{space 33}cn_29 {c |}{col 40}{res}{space 2} .6770058{col 52}{space 2} .6307761{col 63}{space 1}    1.07{col 72}{space 3}0.284{col 80}{space 4}-.5626417{col 93}{space 3} 1.916653
{txt}{space 33}cn_30 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_31 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_32 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_33 {c |}{col 40}{res}{space 2} .3227006{col 52}{space 2}  .467722{col 63}{space 1}    0.69{col 72}{space 3}0.491{col 80}{space 4} -.596501{col 93}{space 3} 1.241902
{txt}{space 33}cn_34 {c |}{col 40}{res}{space 2} 1.146513{col 52}{space 2} .8140704{col 63}{space 1}    1.41{col 72}{space 3}0.160{col 80}{space 4}-.4533574{col 93}{space 3} 2.746384
{txt}{space 33}cn_35 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_36 {c |}{col 40}{res}{space 2} 1.689287{col 52}{space 2} .7943874{col 63}{space 1}    2.13{col 72}{space 3}0.034{col 80}{space 4} .1280988{col 93}{space 3} 3.250476
{txt}{space 33}cn_37 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_38 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_39 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_40 {c |}{col 40}{res}{space 2} 1.187685{col 52}{space 2}  .683688{col 63}{space 1}    1.74{col 72}{space 3}0.083{col 80}{space 4}-.1559483{col 93}{space 3} 2.531319
{txt}{space 33}cn_41 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_42 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_43 {c |}{col 40}{res}{space 2}-.2079305{col 52}{space 2} .6220068{col 63}{space 1}   -0.33{col 72}{space 3}0.738{col 80}{space 4}-1.430344{col 93}{space 3} 1.014483
{txt}{space 33}cn_44 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_45 {c |}{col 40}{res}{space 2} 1.364137{col 52}{space 2}  .845131{col 63}{space 1}    1.61{col 72}{space 3}0.107{col 80}{space 4}-.2967759{col 93}{space 3} 3.025051
{txt}{space 33}cn_46 {c |}{col 40}{res}{space 2} 1.327125{col 52}{space 2} .7442538{col 63}{space 1}    1.78{col 72}{space 3}0.075{col 80}{space 4}-.1355368{col 93}{space 3} 2.789788
{txt}{space 33}cn_47 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_48 {c |}{col 40}{res}{space 2} 1.414443{col 52}{space 2}   .93247{col 63}{space 1}    1.52{col 72}{space 3}0.130{col 80}{space 4} -.418115{col 93}{space 3} 3.247002
{txt}{space 33}cn_49 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_50 {c |}{col 40}{res}{space 2} .2533654{col 52}{space 2} .7468382{col 63}{space 1}    0.34{col 72}{space 3}0.735{col 80}{space 4}-1.214376{col 93}{space 3} 1.721107
{txt}{space 33}cn_51 {c |}{col 40}{res}{space 2} .6147189{col 52}{space 2} .6219864{col 63}{space 1}    0.99{col 72}{space 3}0.324{col 80}{space 4}-.6076545{col 93}{space 3} 1.837092
{txt}{space 33}cn_52 {c |}{col 40}{res}{space 2} .2083976{col 52}{space 2} .5561544{col 63}{space 1}    0.37{col 72}{space 3}0.708{col 80}{space 4}-.8845978{col 93}{space 3} 1.301393
{txt}{space 33}cn_53 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_54 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_55 {c |}{col 40}{res}{space 2} .9905651{col 52}{space 2} .8854787{col 63}{space 1}    1.12{col 72}{space 3}0.264{col 80}{space 4}-.7496425{col 93}{space 3} 2.730773
{txt}{space 33}cn_56 {c |}{col 40}{res}{space 2} 1.197773{col 52}{space 2} .7657993{col 63}{space 1}    1.56{col 72}{space 3}0.119{col 80}{space 4}-.3072316{col 93}{space 3} 2.702778
{txt}{space 33}cn_57 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_58 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_59 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_60 {c |}{col 40}{res}{space 2}-.2062176{col 52}{space 2} .9165334{col 63}{space 1}   -0.22{col 72}{space 3}0.822{col 80}{space 4}-2.007456{col 93}{space 3} 1.595021
{txt}{space 33}cn_61 {c |}{col 40}{res}{space 2}-.1500052{col 52}{space 2} .7469748{col 63}{space 1}   -0.20{col 72}{space 3}0.841{col 80}{space 4}-1.618015{col 93}{space 3} 1.318004
{txt}{space 33}cn_62 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_63 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_64 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_65 {c |}{col 40}{res}{space 2} .2639863{col 52}{space 2} .4635322{col 63}{space 1}    0.57{col 72}{space 3}0.569{col 80}{space 4}-.6469812{col 93}{space 3} 1.174954
{txt}{space 33}cn_66 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_67 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_68 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_69 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_70 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_71 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_72 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_73 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_74 {c |}{col 40}{res}{space 2} .3352296{col 52}{space 2} .6592044{col 63}{space 1}    0.51{col 72}{space 3}0.611{col 80}{space 4}-.9602872{col 93}{space 3} 1.630746
{txt}{space 33}cn_75 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_76 {c |}{col 40}{res}{space 2} .3476852{col 52}{space 2}  .799656{col 63}{space 1}    0.43{col 72}{space 3}0.664{col 80}{space 4}-1.223857{col 93}{space 3} 1.919228
{txt}{space 33}cn_77 {c |}{col 40}{res}{space 2} 1.473839{col 52}{space 2} .8415779{col 63}{space 1}    1.75{col 72}{space 3}0.081{col 80}{space 4} -.180092{col 93}{space 3} 3.127769
{txt}{space 33}cn_78 {c |}{col 40}{res}{space 2} -.045537{col 52}{space 2}  .940414{col 63}{space 1}   -0.05{col 72}{space 3}0.961{col 80}{space 4}-1.893708{col 93}{space 3} 1.802634
{txt}{space 33}cn_79 {c |}{col 40}{res}{space 2} .5786013{col 52}{space 2} .7013583{col 63}{space 1}    0.82{col 72}{space 3}0.410{col 80}{space 4}-.7997594{col 93}{space 3} 1.956962
{txt}{space 33}cn_80 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_81 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_82 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_83 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_84 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_85 {c |}{col 40}{res}{space 2} .6355986{col 52}{space 2} .6675132{col 63}{space 1}    0.95{col 72}{space 3}0.342{col 80}{space 4}-.6762472{col 93}{space 3} 1.947444
{txt}{space 33}cn_86 {c |}{col 40}{res}{space 2} .0314702{col 52}{space 2} 1.122482{col 63}{space 1}    0.03{col 72}{space 3}0.978{col 80}{space 4}-2.174514{col 93}{space 3} 2.237455
{txt}{space 33}cn_87 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_88 {c |}{col 40}{res}{space 2}-.1939863{col 52}{space 2} 1.153436{col 63}{space 1}   -0.17{col 72}{space 3}0.867{col 80}{space 4}-2.460804{col 93}{space 3} 2.072831
{txt}{space 33}cn_89 {c |}{col 40}{res}{space 2}-.9850132{col 52}{space 2} 1.494766{col 63}{space 1}   -0.66{col 72}{space 3}0.510{col 80}{space 4}-3.922637{col 93}{space 3}  1.95261
{txt}{space 33}cn_90 {c |}{col 40}{res}{space 2} 1.124947{col 52}{space 2} .7966182{col 63}{space 1}    1.41{col 72}{space 3}0.159{col 80}{space 4}-.4406253{col 93}{space 3}  2.69052
{txt}{space 33}cn_91 {c |}{col 40}{res}{space 2} .9298613{col 52}{space 2} .5929493{col 63}{space 1}    1.57{col 72}{space 3}0.118{col 80}{space 4}-.2354461{col 93}{space 3} 2.095169
{txt}{space 33}cn_92 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_93 {c |}{col 40}{res}{space 2} .8406874{col 52}{space 2}  .644184{col 63}{space 1}    1.31{col 72}{space 3}0.193{col 80}{space 4}-.4253103{col 93}{space 3} 2.106685
{txt}{space 33}cn_94 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_95 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_96 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_97 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_98 {c |}{col 40}{res}{space 2} .2907867{col 52}{space 2} .6019598{col 63}{space 1}    0.48{col 72}{space 3}0.629{col 80}{space 4}-.8922287{col 93}{space 3} 1.473802
{txt}{space 33}cn_99 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_100 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_101 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_102 {c |}{col 40}{res}{space 2} .9750379{col 52}{space 2} .6854368{col 63}{space 1}    1.42{col 72}{space 3}0.156{col 80}{space 4}-.3720327{col 93}{space 3} 2.322108
{txt}{space 32}cn_103 {c |}{col 40}{res}{space 2} .5122718{col 52}{space 2} .6170435{col 63}{space 1}    0.83{col 72}{space 3}0.407{col 80}{space 4}-.7003873{col 93}{space 3} 1.724931
{txt}{space 32}cn_104 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_105 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_106 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_107 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_108 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_109 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_110 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_111 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_112 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_113 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_114 {c |}{col 40}{res}{space 2}  1.68629{col 52}{space 2} 2.346239{col 63}{space 1}    0.72{col 72}{space 3}0.473{col 80}{space 4} -2.92471{col 93}{space 3} 6.297291
{txt}{space 32}cn_115 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_116 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_117 {c |}{col 40}{res}{space 2} -.930124{col 52}{space 2} 1.284136{col 63}{space 1}   -0.72{col 72}{space 3}0.469{col 80}{space 4}-3.453802{col 93}{space 3} 1.593554
{txt}{space 32}cn_118 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_119 {c |}{col 40}{res}{space 2} .6606993{col 52}{space 2}  .784102{col 63}{space 1}    0.84{col 72}{space 3}0.400{col 80}{space 4}-.8802753{col 93}{space 3} 2.201674
{txt}{space 32}cn_120 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_121 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_122 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_123 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_124 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_125 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_126 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_127 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_128 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_129 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}year {c |}{col 40}{res}{space 2} .1013429{col 52}{space 2} .0769241{col 63}{space 1}    1.32{col 72}{space 3}0.188{col 80}{space 4}-.0498339{col 93}{space 3} .2525197
{txt}{space 19}GlobalReserveLevels {c |}{col 40}{res}{space 2} 1.87e-11{col 52}{space 2} 1.05e-11{col 63}{space 1}    1.78{col 72}{space 3}0.076{col 80}{space 4}-1.94e-12{col 93}{space 3} 3.93e-11
{txt}{space 38} {c |}
{space 10}c.year#c.GlobalReserveLevels {c |}{col 40}{res}{space 2}-9.40e-15{col 52}{space 2} 5.24e-15{col 63}{space 1}   -1.79{col 72}{space 3}0.074{col 80}{space 4}-1.97e-14{col 93}{space 3} 9.00e-16
{txt}{space 38} {c |}
{space 33}_cons {c |}{col 40}{res}{space 2}-204.6005{col 52}{space 2} 153.9121{col 63}{space 1}   -1.33{col 72}{space 3}0.184{col 80}{space 4}-507.0798{col 93}{space 3} 97.87885
{txt}{hline 39}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store c4a
{txt}
{com}. 
. 
. regress deltaReserves_Imports c.ElectionPeriod##c.US10YrYields_AnnAvg ElectionYear l.deltaReserves_Imports l.GDPpcap l.GDPgrowth l.ny_gdp_totl_rt_zs l.CurrAcctBal_PerGDP l.ExtDebtStocks_PerGNI l.DebtService_PerGDP l.Inflation_annGDPdeflator l.PegBandManaged_NoUnion l.lvaw_garriga l.Taxes_PerGDP l.BestCRtg l.cyrs l.dyrs l.v2x_polyarchy l.Left cn_* c.year##c.GlobalReserveLevels if  PegBandManaged_NoUnion==1
{p 0 6 2}{txt}note: cn_1 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_2 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_3 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_5 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_6 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_7 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_8 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_9 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_10 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_11 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_12 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_13 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_14 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_15 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_16 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_18 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_19 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_20 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_22 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_23 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_24 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_25 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_26 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_27 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_29 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_30 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_31 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_32 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_33 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_35 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_36 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_37 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_38 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_39 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_40 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_41 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_42 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_43 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_44 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_45 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_47 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_49 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_50 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_51 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_53 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_54 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_55 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_56 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_57 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_58 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_59 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_60 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_61 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_62 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_63 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_64 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_67 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_68 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_69 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_70 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_71 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_72 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_73 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_74 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_75 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_77 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_78 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_80 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_81 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_82 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_83 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_84 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_85 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_87 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_88 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_89 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_92 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_94 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_96 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_97 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_99 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_100 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_101 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_102 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_103 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_104 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_105 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_106 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_107 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_108 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_109 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_110 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_111 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_112 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_114 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_115 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_116 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_117 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_118 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_121 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_122 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_123 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_124 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_125 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_126 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_127 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_129 omitted because of collinearity{p_end}

      Source {c |}       SS           df       MS      Number of obs   ={res}       186
{txt}{hline 13}{c +}{hline 34}   F(45, 140)      = {res}     1.07
{txt}       Model {c |} {res} 57.0144339        45  1.26698742   {txt}Prob > F        ={res}    0.3776
{txt}    Residual {c |} {res} 166.164252       140  1.18688752   {txt}R-squared       ={res}    0.2555
{txt}{hline 13}{c +}{hline 34}   Adj R-squared   ={res}    0.0162
{txt}       Total {c |} {res} 223.178686       185  1.20637128   {txt}Root MSE        =   {res} 1.0894

{txt}{hline 39}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}                 deltaReserves_Imports{col 40}{c |}      Coef.{col 52}   Std. Err.{col 64}      t{col 72}   P>|t|{col 80}     [95% Con{col 93}f. Interval]
{hline 39}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 24}ElectionPeriod {c |}{col 40}{res}{space 2}-.1939664{col 52}{space 2} .6010122{col 63}{space 1}   -0.32{col 72}{space 3}0.747{col 80}{space 4}  -1.3822{col 93}{space 3}  .994267
{txt}{space 19}US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.1990039{col 52}{space 2} .2165977{col 63}{space 1}   -0.92{col 72}{space 3}0.360{col 80}{space 4}-.6272291{col 93}{space 3} .2292213
{txt}{space 38} {c |}
c.ElectionPeriod#c.US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}  .017369{col 52}{space 2} .1752074{col 63}{space 1}    0.10{col 72}{space 3}0.921{col 80}{space 4}-.3290255{col 93}{space 3} .3637635
{txt}{space 38} {c |}
{space 26}ElectionYear {c |}{col 40}{res}{space 2}-.0623309{col 52}{space 2} .2704138{col 63}{space 1}   -0.23{col 72}{space 3}0.818{col 80}{space 4}-.5969536{col 93}{space 3} .4722917
{txt}{space 38} {c |}
{space 17}deltaReserves_Imports {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.3444153{col 52}{space 2}  .081412{col 63}{space 1}   -4.23{col 72}{space 3}0.000{col 80}{space 4}-.5053712{col 93}{space 3}-.1834594
{txt}{space 38} {c |}
{space 31}GDPpcap {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}  .000349{col 52}{space 2} .0003531{col 63}{space 1}    0.99{col 72}{space 3}0.325{col 80}{space 4}-.0003491{col 93}{space 3} .0010471
{txt}{space 38} {c |}
{space 29}GDPgrowth {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0527021{col 52}{space 2} .0364241{col 63}{space 1}   -1.45{col 72}{space 3}0.150{col 80}{space 4}-.1247145{col 93}{space 3} .0193103
{txt}{space 38} {c |}
{space 21}ny_gdp_totl_rt_zs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} -.031214{col 52}{space 2} .0514393{col 63}{space 1}   -0.61{col 72}{space 3}0.545{col 80}{space 4}-.1329123{col 93}{space 3} .0704843
{txt}{space 38} {c |}
{space 20}CurrAcctBal_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0135345{col 52}{space 2}  .028933{col 63}{space 1}   -0.47{col 72}{space 3}0.641{col 80}{space 4}-.0707366{col 93}{space 3} .0436676
{txt}{space 38} {c |}
{space 18}ExtDebtStocks_PerGNI {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0121819{col 52}{space 2} .0055722{col 63}{space 1}   -2.19{col 72}{space 3}0.030{col 80}{space 4}-.0231984{col 93}{space 3}-.0011655
{txt}{space 38} {c |}
{space 20}DebtService_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} 15.97205{col 52}{space 2} 9.838132{col 63}{space 1}    1.62{col 72}{space 3}0.107{col 80}{space 4}-3.478471{col 93}{space 3} 35.42256
{txt}{space 38} {c |}
{space 14}Inflation_annGDPdeflator {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0200218{col 52}{space 2} .0181052{col 63}{space 1}    1.11{col 72}{space 3}0.271{col 80}{space 4}-.0157731{col 93}{space 3} .0558168
{txt}{space 38} {c |}
{space 16}PegBandManaged_NoUnion {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .2425918{col 52}{space 2} .3650676{col 63}{space 1}    0.66{col 72}{space 3}0.507{col 80}{space 4}-.4791664{col 93}{space 3}   .96435
{txt}{space 38} {c |}
{space 26}lvaw_garriga {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-2.658603{col 52}{space 2} 3.690944{col 63}{space 1}   -0.72{col 72}{space 3}0.473{col 80}{space 4}-9.955798{col 93}{space 3} 4.638593
{txt}{space 38} {c |}
{space 26}Taxes_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} 9.659091{col 52}{space 2}  6.95987{col 63}{space 1}    1.39{col 72}{space 3}0.167{col 80}{space 4}-4.100945{col 93}{space 3} 23.41913
{txt}{space 38} {c |}
{space 30}BestCRtg {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0504139{col 52}{space 2} .0920952{col 63}{space 1}    0.55{col 72}{space 3}0.585{col 80}{space 4}-.1316634{col 93}{space 3} .2324911
{txt}{space 38} {c |}
{space 34}cyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0262339{col 52}{space 2} .0317414{col 63}{space 1}    0.83{col 72}{space 3}0.410{col 80}{space 4}-.0365207{col 93}{space 3} .0889884
{txt}{space 38} {c |}
{space 34}dyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0128718{col 52}{space 2} .0399083{col 63}{space 1}   -0.32{col 72}{space 3}0.748{col 80}{space 4}-.0917727{col 93}{space 3} .0660291
{txt}{space 38} {c |}
{space 25}v2x_polyarchy {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} 1.498795{col 52}{space 2} 4.478123{col 63}{space 1}    0.33{col 72}{space 3}0.738{col 80}{space 4}-7.354696{col 93}{space 3} 10.35229
{txt}{space 38} {c |}
{space 31}LeftGov {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}   .17584{col 52}{space 2} .3490912{col 63}{space 1}    0.50{col 72}{space 3}0.615{col 80}{space 4}-.5143321{col 93}{space 3} .8660121
{txt}{space 38} {c |}
{space 34}cn_1 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_2 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_3 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_4 {c |}{col 40}{res}{space 2}-5.391864{col 52}{space 2} 4.799532{col 63}{space 1}   -1.12{col 72}{space 3}0.263{col 80}{space 4} -14.8808{col 93}{space 3}  4.09707
{txt}{space 34}cn_5 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_6 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_7 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_8 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_9 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_10 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_11 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_12 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_13 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_14 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_15 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_16 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_17 {c |}{col 40}{res}{space 2} -4.51381{col 52}{space 2} 3.207911{col 63}{space 1}   -1.41{col 72}{space 3}0.162{col 80}{space 4}-10.85602{col 93}{space 3} 1.828403
{txt}{space 33}cn_18 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_19 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_20 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_21 {c |}{col 40}{res}{space 2}-3.103802{col 52}{space 2} 2.253024{col 63}{space 1}   -1.38{col 72}{space 3}0.171{col 80}{space 4}-7.558152{col 93}{space 3} 1.350549
{txt}{space 33}cn_22 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_23 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_24 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_25 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_26 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_27 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_28 {c |}{col 40}{res}{space 2}-2.028147{col 52}{space 2} 2.292209{col 63}{space 1}   -0.88{col 72}{space 3}0.378{col 80}{space 4}-6.559967{col 93}{space 3} 2.503673
{txt}{space 33}cn_29 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_30 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_31 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_32 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_33 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_34 {c |}{col 40}{res}{space 2}-.1157193{col 52}{space 2} 1.379718{col 63}{space 1}   -0.08{col 72}{space 3}0.933{col 80}{space 4}-2.843497{col 93}{space 3} 2.612058
{txt}{space 33}cn_35 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_36 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_37 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_38 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_39 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_40 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_41 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_42 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_43 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_44 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_45 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_46 {c |}{col 40}{res}{space 2} .3521656{col 52}{space 2} 1.986235{col 63}{space 1}    0.18{col 72}{space 3}0.860{col 80}{space 4}-3.574728{col 93}{space 3} 4.279059
{txt}{space 33}cn_47 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_48 {c |}{col 40}{res}{space 2}-2.549177{col 52}{space 2} 1.453722{col 63}{space 1}   -1.75{col 72}{space 3}0.082{col 80}{space 4}-5.423262{col 93}{space 3} .3249089
{txt}{space 33}cn_49 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_50 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_51 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_52 {c |}{col 40}{res}{space 2} .4733322{col 52}{space 2} .8734122{col 63}{space 1}    0.54{col 72}{space 3}0.589{col 80}{space 4}-1.253451{col 93}{space 3} 2.200115
{txt}{space 33}cn_53 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_54 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_55 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_56 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_57 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_58 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_59 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_60 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_61 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_62 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_63 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_64 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_65 {c |}{col 40}{res}{space 2}-.8679038{col 52}{space 2} 1.861768{col 63}{space 1}   -0.47{col 72}{space 3}0.642{col 80}{space 4}-4.548719{col 93}{space 3} 2.812911
{txt}{space 33}cn_66 {c |}{col 40}{res}{space 2} 1.197209{col 52}{space 2} 1.134809{col 63}{space 1}    1.05{col 72}{space 3}0.293{col 80}{space 4}-1.046369{col 93}{space 3} 3.440787
{txt}{space 33}cn_67 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_68 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_69 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_70 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_71 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_72 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_73 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_74 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_75 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_76 {c |}{col 40}{res}{space 2} .2716961{col 52}{space 2} 1.268348{col 63}{space 1}    0.21{col 72}{space 3}0.831{col 80}{space 4}-2.235895{col 93}{space 3} 2.779287
{txt}{space 33}cn_77 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_78 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_79 {c |}{col 40}{res}{space 2}-.0004525{col 52}{space 2}  .870466{col 63}{space 1}   -0.00{col 72}{space 3}1.000{col 80}{space 4} -1.72141{col 93}{space 3} 1.720505
{txt}{space 33}cn_80 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_81 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_82 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_83 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_84 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_85 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_86 {c |}{col 40}{res}{space 2} -.436794{col 52}{space 2} 1.434515{col 63}{space 1}   -0.30{col 72}{space 3}0.761{col 80}{space 4}-3.272907{col 93}{space 3} 2.399319
{txt}{space 33}cn_87 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_88 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_89 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_90 {c |}{col 40}{res}{space 2}-1.518182{col 52}{space 2} 2.449763{col 63}{space 1}   -0.62{col 72}{space 3}0.536{col 80}{space 4}-6.361496{col 93}{space 3} 3.325132
{txt}{space 33}cn_91 {c |}{col 40}{res}{space 2}-.2951962{col 52}{space 2} 1.129503{col 63}{space 1}   -0.26{col 72}{space 3}0.794{col 80}{space 4}-2.528284{col 93}{space 3} 1.937892
{txt}{space 33}cn_92 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_93 {c |}{col 40}{res}{space 2} 1.241093{col 52}{space 2}  1.71791{col 63}{space 1}    0.72{col 72}{space 3}0.471{col 80}{space 4}-2.155307{col 93}{space 3} 4.637493
{txt}{space 33}cn_94 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_95 {c |}{col 40}{res}{space 2}-.5632185{col 52}{space 2} 1.739676{col 63}{space 1}   -0.32{col 72}{space 3}0.747{col 80}{space 4}-4.002652{col 93}{space 3} 2.876215
{txt}{space 33}cn_96 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_97 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_98 {c |}{col 40}{res}{space 2}-1.082937{col 52}{space 2} 2.323123{col 63}{space 1}   -0.47{col 72}{space 3}0.642{col 80}{space 4}-5.675877{col 93}{space 3} 3.510003
{txt}{space 33}cn_99 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_100 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_101 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_102 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_103 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_104 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_105 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_106 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_107 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_108 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_109 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_110 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_111 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_112 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_113 {c |}{col 40}{res}{space 2}-2.680754{col 52}{space 2} 1.807244{col 63}{space 1}   -1.48{col 72}{space 3}0.140{col 80}{space 4}-6.253771{col 93}{space 3} .8922636
{txt}{space 32}cn_114 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_115 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_116 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_117 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_118 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_119 {c |}{col 40}{res}{space 2}-.7325885{col 52}{space 2} 1.027353{col 63}{space 1}   -0.71{col 72}{space 3}0.477{col 80}{space 4}-2.763722{col 93}{space 3} 1.298545
{txt}{space 32}cn_120 {c |}{col 40}{res}{space 2} .2508864{col 52}{space 2} 1.895187{col 63}{space 1}    0.13{col 72}{space 3}0.895{col 80}{space 4}-3.495999{col 93}{space 3} 3.997772
{txt}{space 32}cn_121 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_122 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_123 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_124 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_125 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_126 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_127 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_128 {c |}{col 40}{res}{space 2} -3.46697{col 52}{space 2} 2.258349{col 63}{space 1}   -1.54{col 72}{space 3}0.127{col 80}{space 4}-7.931847{col 93}{space 3} .9979065
{txt}{space 32}cn_129 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}year {c |}{col 40}{res}{space 2} .1637869{col 52}{space 2} .1499235{col 63}{space 1}    1.09{col 72}{space 3}0.277{col 80}{space 4}-.1326199{col 93}{space 3} .4601937
{txt}{space 19}GlobalReserveLevels {c |}{col 40}{res}{space 2} 4.42e-11{col 52}{space 2} 2.25e-11{col 63}{space 1}    1.96{col 72}{space 3}0.052{col 80}{space 4}-3.23e-13{col 93}{space 3} 8.87e-11
{txt}{space 38} {c |}
{space 10}c.year#c.GlobalReserveLevels {c |}{col 40}{res}{space 2}-2.20e-14{col 52}{space 2} 1.12e-14{col 63}{space 1}   -1.96{col 72}{space 3}0.052{col 80}{space 4}-4.43e-14{col 93}{space 3} 1.73e-16
{txt}{space 38} {c |}
{space 33}_cons {c |}{col 40}{res}{space 2}-328.6031{col 52}{space 2} 300.2932{col 63}{space 1}   -1.09{col 72}{space 3}0.276{col 80}{space 4}-922.2989{col 93}{space 3} 265.0927
{txt}{hline 39}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store c3
{txt}
{com}. 
. regress deltaReserves_Imports c.ElectionPeriod##c.US10YrYields_AnnAvg ElectionYear l.deltaReserves_Imports l.GDPpcap l.GDPgrowth l.ny_gdp_totl_rt_zs l.CurrAcctBal_PerGDP l.ExtDebtStocks_PerGNI l.DebtService_PerGDP l.Inflation_annGDPdeflator l.PegBandManaged_NoUnion l.lvaw_garriga l.Taxes_PerGDP l.BestCRtg l.cyrs l.dyrs l.v2x_polyarchy l.Left cn_* c.year##c.GlobalReserveLevels if  PegBandManaged_NoUnion==0
{p 0 6 2}{txt}note: cn_1 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_3 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_6 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_7 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_8 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_9 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_12 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_14 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_15 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_16 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_17 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_18 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_19 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_20 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_22 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_23 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_24 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_25 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_26 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_27 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_30 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_31 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_32 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_35 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_37 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_38 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_39 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_41 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_42 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_44 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_47 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_49 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_53 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_54 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_57 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_58 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_59 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_62 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_63 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_64 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_66 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_67 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_68 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_69 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_70 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_71 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_72 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_73 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_75 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_80 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_81 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_82 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_83 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_84 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_87 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_92 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_94 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_95 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_96 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_97 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_99 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_100 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_101 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_104 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_105 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_106 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_107 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_108 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_109 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_110 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_111 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_112 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_113 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_115 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_116 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_118 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_120 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_121 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_122 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_123 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_124 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_125 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_126 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_127 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_128 omitted because of collinearity{p_end}
{p 0 6 2}note: cn_129 omitted because of collinearity{p_end}

      Source {c |}       SS           df       MS      Number of obs   ={res}       514
{txt}{hline 13}{c +}{hline 34}   F(66, 447)      = {res}     0.99
{txt}       Model {c |} {res} 74.9787962        66  1.13604237   {txt}Prob > F        ={res}    0.4971
{txt}    Residual {c |} {res} 511.523817       447  1.14434858   {txt}R-squared       ={res}    0.1278
{txt}{hline 13}{c +}{hline 34}   Adj R-squared   ={res}   -0.0009
{txt}       Total {c |} {res} 586.502613       513  1.14327995   {txt}Root MSE        =   {res} 1.0697

{txt}{hline 39}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}                 deltaReserves_Imports{col 40}{c |}      Coef.{col 52}   Std. Err.{col 64}      t{col 72}   P>|t|{col 80}     [95% Con{col 93}f. Interval]
{hline 39}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 24}ElectionPeriod {c |}{col 40}{res}{space 2} .6747023{col 52}{space 2} .3377154{col 63}{space 1}    2.00{col 72}{space 3}0.046{col 80}{space 4} .0109953{col 93}{space 3} 1.338409
{txt}{space 19}US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.1414534{col 52}{space 2} .1224964{col 63}{space 1}   -1.15{col 72}{space 3}0.249{col 80}{space 4}-.3821938{col 93}{space 3} .0992869
{txt}{space 38} {c |}
c.ElectionPeriod#c.US10YrYields_AnnAvg {c |}{col 40}{res}{space 2} -.282225{col 52}{space 2} .0972744{col 63}{space 1}   -2.90{col 72}{space 3}0.004{col 80}{space 4} -.473397{col 93}{space 3}-.0910529
{txt}{space 38} {c |}
{space 26}ElectionYear {c |}{col 40}{res}{space 2} .2169361{col 52}{space 2} .1500024{col 63}{space 1}    1.45{col 72}{space 3}0.149{col 80}{space 4}-.0778614{col 93}{space 3} .5117336
{txt}{space 38} {c |}
{space 17}deltaReserves_Imports {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.1380103{col 52}{space 2} .0489764{col 63}{space 1}   -2.82{col 72}{space 3}0.005{col 80}{space 4}-.2342629{col 93}{space 3}-.0417577
{txt}{space 38} {c |}
{space 31}GDPpcap {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0000855{col 52}{space 2} .0000844{col 63}{space 1}    1.01{col 72}{space 3}0.312{col 80}{space 4}-.0000803{col 93}{space 3} .0002513
{txt}{space 38} {c |}
{space 29}GDPgrowth {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0141255{col 52}{space 2} .0154576{col 63}{space 1}    0.91{col 72}{space 3}0.361{col 80}{space 4}-.0162531{col 93}{space 3} .0445041
{txt}{space 38} {c |}
{space 21}ny_gdp_totl_rt_zs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0113168{col 52}{space 2} .0167539{col 63}{space 1}   -0.68{col 72}{space 3}0.500{col 80}{space 4} -.044243{col 93}{space 3} .0216094
{txt}{space 38} {c |}
{space 20}CurrAcctBal_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0017023{col 52}{space 2} .0080641{col 63}{space 1}   -0.21{col 72}{space 3}0.833{col 80}{space 4}-.0175505{col 93}{space 3} .0141459
{txt}{space 38} {c |}
{space 18}ExtDebtStocks_PerGNI {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0005138{col 52}{space 2} .0016465{col 63}{space 1}    0.31{col 72}{space 3}0.755{col 80}{space 4} -.002722{col 93}{space 3} .0037497
{txt}{space 38} {c |}
{space 20}DebtService_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-1.558234{col 52}{space 2} 2.102146{col 63}{space 1}   -0.74{col 72}{space 3}0.459{col 80}{space 4} -5.68955{col 93}{space 3} 2.573082
{txt}{space 38} {c |}
{space 14}Inflation_annGDPdeflator {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0090426{col 52}{space 2} .0066065{col 63}{space 1}    1.37{col 72}{space 3}0.172{col 80}{space 4}-.0039411{col 93}{space 3} .0220262
{txt}{space 38} {c |}
{space 16}PegBandManaged_NoUnion {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .1614413{col 52}{space 2}  .323387{col 63}{space 1}    0.50{col 72}{space 3}0.618{col 80}{space 4}-.4741065{col 93}{space 3}  .796989
{txt}{space 38} {c |}
{space 26}lvaw_garriga {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .1729803{col 52}{space 2} 1.182889{col 63}{space 1}    0.15{col 72}{space 3}0.884{col 80}{space 4}-2.151733{col 93}{space 3} 2.497694
{txt}{space 38} {c |}
{space 26}Taxes_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} 5.635849{col 52}{space 2} 2.322291{col 63}{space 1}    2.43{col 72}{space 3}0.016{col 80}{space 4} 1.071886{col 93}{space 3} 10.19981
{txt}{space 38} {c |}
{space 30}BestCRtg {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0862755{col 52}{space 2} .0432103{col 63}{space 1}    2.00{col 72}{space 3}0.046{col 80}{space 4} .0013549{col 93}{space 3} .1711961
{txt}{space 38} {c |}
{space 34}cyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0424449{col 52}{space 2} .0326426{col 63}{space 1}    1.30{col 72}{space 3}0.194{col 80}{space 4}-.0217071{col 93}{space 3}  .106597
{txt}{space 38} {c |}
{space 34}dyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0257771{col 52}{space 2} .0153478{col 63}{space 1}   -1.68{col 72}{space 3}0.094{col 80}{space 4}  -.05594{col 93}{space 3} .0043858
{txt}{space 38} {c |}
{space 25}v2x_polyarchy {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.1530199{col 52}{space 2} 1.339454{col 63}{space 1}   -0.11{col 72}{space 3}0.909{col 80}{space 4}-2.785429{col 93}{space 3} 2.479389
{txt}{space 38} {c |}
{space 31}LeftGov {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.1578265{col 52}{space 2} .1570984{col 63}{space 1}   -1.00{col 72}{space 3}0.316{col 80}{space 4}-.4665696{col 93}{space 3} .1509167
{txt}{space 38} {c |}
{space 34}cn_1 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_2 {c |}{col 40}{res}{space 2} .2885464{col 52}{space 2} .5827117{col 63}{space 1}    0.50{col 72}{space 3}0.621{col 80}{space 4}-.8566484{col 93}{space 3} 1.433741
{txt}{space 34}cn_3 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_4 {c |}{col 40}{res}{space 2}-.5530238{col 52}{space 2} 1.053422{col 63}{space 1}   -0.52{col 72}{space 3}0.600{col 80}{space 4}-2.623298{col 93}{space 3} 1.517251
{txt}{space 34}cn_5 {c |}{col 40}{res}{space 2}-.4341177{col 52}{space 2} 1.274365{col 63}{space 1}   -0.34{col 72}{space 3}0.734{col 80}{space 4}-2.938609{col 93}{space 3} 2.070374
{txt}{space 34}cn_6 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_7 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_8 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_9 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_10 {c |}{col 40}{res}{space 2} .0263889{col 52}{space 2} 1.328861{col 63}{space 1}    0.02{col 72}{space 3}0.984{col 80}{space 4}-2.585202{col 93}{space 3}  2.63798
{txt}{space 33}cn_11 {c |}{col 40}{res}{space 2} .4495358{col 52}{space 2} .6275345{col 63}{space 1}    0.72{col 72}{space 3}0.474{col 80}{space 4}-.7837484{col 93}{space 3}  1.68282
{txt}{space 33}cn_12 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_13 {c |}{col 40}{res}{space 2} .2051369{col 52}{space 2} .5771554{col 63}{space 1}    0.36{col 72}{space 3}0.722{col 80}{space 4}-.9291381{col 93}{space 3} 1.339412
{txt}{space 33}cn_14 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_15 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_16 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_17 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_18 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_19 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_20 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_21 {c |}{col 40}{res}{space 2}-.0837381{col 52}{space 2} .8647125{col 63}{space 1}   -0.10{col 72}{space 3}0.923{col 80}{space 4}-1.783145{col 93}{space 3} 1.615669
{txt}{space 33}cn_22 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_23 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_24 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_25 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_26 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_27 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_28 {c |}{col 40}{res}{space 2} .7880602{col 52}{space 2} .6809821{col 63}{space 1}    1.16{col 72}{space 3}0.248{col 80}{space 4}-.5502638{col 93}{space 3} 2.126384
{txt}{space 33}cn_29 {c |}{col 40}{res}{space 2} .6930788{col 52}{space 2} .7236307{col 63}{space 1}    0.96{col 72}{space 3}0.339{col 80}{space 4}-.7290619{col 93}{space 3} 2.115219
{txt}{space 33}cn_30 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_31 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_32 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_33 {c |}{col 40}{res}{space 2}  .323133{col 52}{space 2} .5364922{col 63}{space 1}    0.60{col 72}{space 3}0.547{col 80}{space 4}-.7312272{col 93}{space 3} 1.377493
{txt}{space 33}cn_34 {c |}{col 40}{res}{space 2} 1.162128{col 52}{space 2} .8549929{col 63}{space 1}    1.36{col 72}{space 3}0.175{col 80}{space 4}-.5181773{col 93}{space 3} 2.842433
{txt}{space 33}cn_35 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_36 {c |}{col 40}{res}{space 2} 1.706888{col 52}{space 2} 1.031148{col 63}{space 1}    1.66{col 72}{space 3}0.099{col 80}{space 4}-.3196118{col 93}{space 3} 3.733387
{txt}{space 33}cn_37 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_38 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_39 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_40 {c |}{col 40}{res}{space 2} 1.208064{col 52}{space 2} .7395911{col 63}{space 1}    1.63{col 72}{space 3}0.103{col 80}{space 4}-.2454433{col 93}{space 3} 2.661572
{txt}{space 33}cn_41 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_42 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_43 {c |}{col 40}{res}{space 2} -.170245{col 52}{space 2} .7399355{col 63}{space 1}   -0.23{col 72}{space 3}0.818{col 80}{space 4}-1.624429{col 93}{space 3} 1.283939
{txt}{space 33}cn_44 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_45 {c |}{col 40}{res}{space 2} 1.391594{col 52}{space 2} .9337635{col 63}{space 1}    1.49{col 72}{space 3}0.137{col 80}{space 4}-.4435181{col 93}{space 3} 3.226705
{txt}{space 33}cn_46 {c |}{col 40}{res}{space 2} 1.302539{col 52}{space 2} .7048858{col 63}{space 1}    1.85{col 72}{space 3}0.065{col 80}{space 4}-.0827627{col 93}{space 3} 2.687841
{txt}{space 33}cn_47 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_48 {c |}{col 40}{res}{space 2} 1.428131{col 52}{space 2} 1.045242{col 63}{space 1}    1.37{col 72}{space 3}0.173{col 80}{space 4}-.6260675{col 93}{space 3} 3.482329
{txt}{space 33}cn_49 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_50 {c |}{col 40}{res}{space 2} .2808206{col 52}{space 2} .9301144{col 63}{space 1}    0.30{col 72}{space 3}0.763{col 80}{space 4}-1.547119{col 93}{space 3} 2.108761
{txt}{space 33}cn_51 {c |}{col 40}{res}{space 2} .6488377{col 52}{space 2} .7596512{col 63}{space 1}    0.85{col 72}{space 3}0.393{col 80}{space 4}-.8440936{col 93}{space 3} 2.141769
{txt}{space 33}cn_52 {c |}{col 40}{res}{space 2} .2457324{col 52}{space 2}  .973902{col 63}{space 1}    0.25{col 72}{space 3}0.801{col 80}{space 4}-1.668263{col 93}{space 3} 2.159728
{txt}{space 33}cn_53 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_54 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_55 {c |}{col 40}{res}{space 2} 1.018553{col 52}{space 2} 1.039139{col 63}{space 1}    0.98{col 72}{space 3}0.328{col 80}{space 4}-1.023652{col 93}{space 3} 3.060758
{txt}{space 33}cn_56 {c |}{col 40}{res}{space 2} 1.218584{col 52}{space 2} .8417127{col 63}{space 1}    1.45{col 72}{space 3}0.148{col 80}{space 4}-.4356214{col 93}{space 3}  2.87279
{txt}{space 33}cn_57 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_58 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_59 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_60 {c |}{col 40}{res}{space 2}-.1515007{col 52}{space 2} 1.095884{col 63}{space 1}   -0.14{col 72}{space 3}0.890{col 80}{space 4}-2.305225{col 93}{space 3} 2.002223
{txt}{space 33}cn_61 {c |}{col 40}{res}{space 2}-.1698656{col 52}{space 2} .7331309{col 63}{space 1}   -0.23{col 72}{space 3}0.817{col 80}{space 4}-1.610677{col 93}{space 3} 1.270946
{txt}{space 33}cn_62 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_63 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_64 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_65 {c |}{col 40}{res}{space 2} .2706293{col 52}{space 2} .5454711{col 63}{space 1}    0.50{col 72}{space 3}0.620{col 80}{space 4} -.801377{col 93}{space 3} 1.342636
{txt}{space 33}cn_66 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_67 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_68 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_69 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_70 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_71 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_72 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_73 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_74 {c |}{col 40}{res}{space 2} .3578239{col 52}{space 2} .7266871{col 63}{space 1}    0.49{col 72}{space 3}0.623{col 80}{space 4}-1.070323{col 93}{space 3} 1.785971
{txt}{space 33}cn_75 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_76 {c |}{col 40}{res}{space 2} .3435354{col 52}{space 2} 1.082126{col 63}{space 1}    0.32{col 72}{space 3}0.751{col 80}{space 4} -1.78315{col 93}{space 3} 2.470221
{txt}{space 33}cn_77 {c |}{col 40}{res}{space 2}  1.50473{col 52}{space 2}   1.1006{col 63}{space 1}    1.37{col 72}{space 3}0.172{col 80}{space 4} -.658263{col 93}{space 3} 3.667723
{txt}{space 33}cn_78 {c |}{col 40}{res}{space 2}-.0096419{col 52}{space 2} 1.109638{col 63}{space 1}   -0.01{col 72}{space 3}0.993{col 80}{space 4}-2.190397{col 93}{space 3} 2.171113
{txt}{space 33}cn_79 {c |}{col 40}{res}{space 2} .6004834{col 52}{space 2} .8586349{col 63}{space 1}    0.70{col 72}{space 3}0.485{col 80}{space 4}-1.086979{col 93}{space 3} 2.287946
{txt}{space 33}cn_80 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_81 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_82 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_83 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_84 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_85 {c |}{col 40}{res}{space 2} .6686458{col 52}{space 2} .7596763{col 63}{space 1}    0.88{col 72}{space 3}0.379{col 80}{space 4}-.8243349{col 93}{space 3} 2.161627
{txt}{space 33}cn_86 {c |}{col 40}{res}{space 2} .0673436{col 52}{space 2} .8478974{col 63}{space 1}    0.08{col 72}{space 3}0.937{col 80}{space 4}-1.599017{col 93}{space 3} 1.733704
{txt}{space 33}cn_87 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_88 {c |}{col 40}{res}{space 2}-.0968156{col 52}{space 2}  1.36409{col 63}{space 1}   -0.07{col 72}{space 3}0.943{col 80}{space 4}-2.777642{col 93}{space 3}  2.58401
{txt}{space 33}cn_89 {c |}{col 40}{res}{space 2}-.8803967{col 52}{space 2} 1.850542{col 63}{space 1}   -0.48{col 72}{space 3}0.634{col 80}{space 4}-4.517239{col 93}{space 3} 2.756446
{txt}{space 33}cn_90 {c |}{col 40}{res}{space 2} 1.116016{col 52}{space 2}   .86974{col 63}{space 1}    1.28{col 72}{space 3}0.200{col 80}{space 4}-.5932716{col 93}{space 3} 2.825303
{txt}{space 33}cn_91 {c |}{col 40}{res}{space 2} .9423849{col 52}{space 2} .8160401{col 63}{space 1}    1.15{col 72}{space 3}0.249{col 80}{space 4}-.6613667{col 93}{space 3} 2.546136
{txt}{space 33}cn_92 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_93 {c |}{col 40}{res}{space 2} .8577169{col 52}{space 2} .6912931{col 63}{space 1}    1.24{col 72}{space 3}0.215{col 80}{space 4}-.5008712{col 93}{space 3} 2.216305
{txt}{space 33}cn_94 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_95 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_96 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_97 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_98 {c |}{col 40}{res}{space 2} .2666405{col 52}{space 2} .6901602{col 63}{space 1}    0.39{col 72}{space 3}0.699{col 80}{space 4}-1.089721{col 93}{space 3} 1.623002
{txt}{space 33}cn_99 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_100 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_101 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_102 {c |}{col 40}{res}{space 2} 1.000085{col 52}{space 2} .7036618{col 63}{space 1}    1.42{col 72}{space 3}0.156{col 80}{space 4} -.382811{col 93}{space 3} 2.382981
{txt}{space 32}cn_103 {c |}{col 40}{res}{space 2} .5338396{col 52}{space 2}  .691803{col 63}{space 1}    0.77{col 72}{space 3}0.441{col 80}{space 4}-.8257507{col 93}{space 3}  1.89343
{txt}{space 32}cn_104 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_105 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_106 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_107 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_108 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_109 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_110 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_111 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_112 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_113 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_114 {c |}{col 40}{res}{space 2} 1.807391{col 52}{space 2} 2.190172{col 63}{space 1}    0.83{col 72}{space 3}0.410{col 80}{space 4}-2.496922{col 93}{space 3} 6.111704
{txt}{space 32}cn_115 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_116 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_117 {c |}{col 40}{res}{space 2}-.8294815{col 52}{space 2} 1.563708{col 63}{space 1}   -0.53{col 72}{space 3}0.596{col 80}{space 4}-3.902613{col 93}{space 3}  2.24365
{txt}{space 32}cn_118 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_119 {c |}{col 40}{res}{space 2} .6920085{col 52}{space 2} .8293015{col 63}{space 1}    0.83{col 72}{space 3}0.404{col 80}{space 4}-.9378054{col 93}{space 3} 2.321822
{txt}{space 32}cn_120 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_121 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_122 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_123 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_124 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_125 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_126 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_127 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_128 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_129 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}year {c |}{col 40}{res}{space 2} .1059994{col 52}{space 2} .0839537{col 63}{space 1}    1.26{col 72}{space 3}0.207{col 80}{space 4}-.0589936{col 93}{space 3} .2709925
{txt}{space 19}GlobalReserveLevels {c |}{col 40}{res}{space 2} 1.90e-11{col 52}{space 2} 1.09e-11{col 63}{space 1}    1.74{col 72}{space 3}0.083{col 80}{space 4}-2.52e-12{col 93}{space 3} 4.05e-11
{txt}{space 38} {c |}
{space 10}c.year#c.GlobalReserveLevels {c |}{col 40}{res}{space 2}-9.56e-15{col 52}{space 2} 5.47e-15{col 63}{space 1}   -1.75{col 72}{space 3}0.081{col 80}{space 4}-2.03e-14{col 93}{space 3} 1.19e-15
{txt}{space 38} {c |}
{space 33}_cons {c |}{col 40}{res}{space 2} -213.946{col 52}{space 2} 167.9555{col 63}{space 1}   -1.27{col 72}{space 3}0.203{col 80}{space 4}-544.0265{col 93}{space 3} 116.1345
{txt}{hline 39}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store c4
{txt}
{com}. 
. 
. suest c3 c4
{res}
{txt}Simultaneous results for {stata estimates replay c3:c3}, {stata estimates replay c4:c4}

{col 49}Number of obs{col 67}= {res}       700

{txt}{hline 39}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 40}{c |}{col 52}    Robust
{col 40}{c |}      Coef.{col 52}   Std. Err.{col 64}      z{col 72}   P>|z|{col 80}     [95% Con{col 93}f. Interval]
{hline 39}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}c3_mean                                {txt}{c |}
{space 24}ElectionPeriod {c |}{col 40}{res}{space 2}-.1939664{col 52}{space 2} .4458828{col 63}{space 1}   -0.44{col 72}{space 3}0.664{col 80}{space 4}-1.067881{col 93}{space 3} .6799479
{txt}{space 19}US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.1990039{col 52}{space 2} .2017681{col 63}{space 1}   -0.99{col 72}{space 3}0.324{col 80}{space 4}-.5944622{col 93}{space 3} .1964543
{txt}{space 38} {c |}
c.ElectionPeriod#c.US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}  .017369{col 52}{space 2} .1374067{col 63}{space 1}    0.13{col 72}{space 3}0.899{col 80}{space 4}-.2519432{col 93}{space 3} .2866811
{txt}{space 38} {c |}
{space 26}ElectionYear {c |}{col 40}{res}{space 2}-.0623309{col 52}{space 2} .2294167{col 63}{space 1}   -0.27{col 72}{space 3}0.786{col 80}{space 4}-.5119795{col 93}{space 3} .3873176
{txt}{space 38} {c |}
{space 17}deltaReserves_Imports {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.3444153{col 52}{space 2} .0994597{col 63}{space 1}   -3.46{col 72}{space 3}0.001{col 80}{space 4}-.5393527{col 93}{space 3}-.1494779
{txt}{space 38} {c |}
{space 31}GDPpcap {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}  .000349{col 52}{space 2}   .00028{col 63}{space 1}    1.25{col 72}{space 3}0.213{col 80}{space 4}-.0001999{col 93}{space 3} .0008979
{txt}{space 38} {c |}
{space 29}GDPgrowth {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0527021{col 52}{space 2} .0303929{col 63}{space 1}   -1.73{col 72}{space 3}0.083{col 80}{space 4} -.112271{col 93}{space 3} .0068669
{txt}{space 38} {c |}
{space 21}ny_gdp_totl_rt_zs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} -.031214{col 52}{space 2} .0453336{col 63}{space 1}   -0.69{col 72}{space 3}0.491{col 80}{space 4}-.1200663{col 93}{space 3} .0576382
{txt}{space 38} {c |}
{space 20}CurrAcctBal_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0135345{col 52}{space 2} .0226847{col 63}{space 1}   -0.60{col 72}{space 3}0.551{col 80}{space 4}-.0579957{col 93}{space 3} .0309267
{txt}{space 38} {c |}
{space 18}ExtDebtStocks_PerGNI {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0121819{col 52}{space 2} .0041617{col 63}{space 1}   -2.93{col 72}{space 3}0.003{col 80}{space 4}-.0203387{col 93}{space 3}-.0040252
{txt}{space 38} {c |}
{space 20}DebtService_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} 15.97205{col 52}{space 2} 10.16747{col 63}{space 1}    1.57{col 72}{space 3}0.116{col 80}{space 4}-3.955834{col 93}{space 3} 35.89993
{txt}{space 38} {c |}
{space 14}Inflation_annGDPdeflator {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0200218{col 52}{space 2}   .01227{col 63}{space 1}    1.63{col 72}{space 3}0.103{col 80}{space 4} -.004027{col 93}{space 3} .0440706
{txt}{space 38} {c |}
{space 16}PegBandManaged_NoUnion {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .2425918{col 52}{space 2} .2714725{col 63}{space 1}    0.89{col 72}{space 3}0.372{col 80}{space 4}-.2894846{col 93}{space 3} .7746682
{txt}{space 38} {c |}
{space 26}lvaw_garriga {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-2.658603{col 52}{space 2}  2.30654{col 63}{space 1}   -1.15{col 72}{space 3}0.249{col 80}{space 4}-7.179339{col 93}{space 3} 1.862133
{txt}{space 38} {c |}
{space 26}Taxes_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} 9.659091{col 52}{space 2} 6.471094{col 63}{space 1}    1.49{col 72}{space 3}0.136{col 80}{space 4} -3.02402{col 93}{space 3}  22.3422
{txt}{space 38} {c |}
{space 30}BestCRtg {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0504139{col 52}{space 2} .0642227{col 63}{space 1}    0.78{col 72}{space 3}0.432{col 80}{space 4}-.0754604{col 93}{space 3} .1762881
{txt}{space 38} {c |}
{space 34}cyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0262339{col 52}{space 2} .0228054{col 63}{space 1}    1.15{col 72}{space 3}0.250{col 80}{space 4}-.0184639{col 93}{space 3} .0709317
{txt}{space 38} {c |}
{space 34}dyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0128718{col 52}{space 2}   .02866{col 63}{space 1}   -0.45{col 72}{space 3}0.653{col 80}{space 4}-.0690444{col 93}{space 3} .0433008
{txt}{space 38} {c |}
{space 25}v2x_polyarchy {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} 1.498795{col 52}{space 2} 4.541598{col 63}{space 1}    0.33{col 72}{space 3}0.741{col 80}{space 4}-7.402574{col 93}{space 3} 10.40016
{txt}{space 38} {c |}
{space 31}LeftGov {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}   .17584{col 52}{space 2}  .298256{col 63}{space 1}    0.59{col 72}{space 3}0.555{col 80}{space 4}-.4087311{col 93}{space 3}  .760411
{txt}{space 38} {c |}
{space 34}cn_1 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_2 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_3 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_4 {c |}{col 40}{res}{space 2}-5.391864{col 52}{space 2} 4.110117{col 63}{space 1}   -1.31{col 72}{space 3}0.190{col 80}{space 4}-13.44755{col 93}{space 3} 2.663817
{txt}{space 34}cn_5 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_6 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_7 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_8 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_9 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_10 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_11 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_12 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_13 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_14 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_15 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_16 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_17 {c |}{col 40}{res}{space 2} -4.51381{col 52}{space 2} 2.789991{col 63}{space 1}   -1.62{col 72}{space 3}0.106{col 80}{space 4}-9.982091{col 93}{space 3} .9544714
{txt}{space 33}cn_18 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_19 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_20 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_21 {c |}{col 40}{res}{space 2}-3.103802{col 52}{space 2} 2.055923{col 63}{space 1}   -1.51{col 72}{space 3}0.131{col 80}{space 4}-7.133336{col 93}{space 3} .9257325
{txt}{space 33}cn_22 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_23 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_24 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_25 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_26 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_27 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_28 {c |}{col 40}{res}{space 2}-2.028147{col 52}{space 2} 1.867674{col 63}{space 1}   -1.09{col 72}{space 3}0.278{col 80}{space 4}-5.688721{col 93}{space 3} 1.632428
{txt}{space 33}cn_29 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_30 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_31 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_32 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_33 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_34 {c |}{col 40}{res}{space 2}-.1157193{col 52}{space 2} 1.338677{col 63}{space 1}   -0.09{col 72}{space 3}0.931{col 80}{space 4}-2.739478{col 93}{space 3}  2.50804
{txt}{space 33}cn_35 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_36 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_37 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_38 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_39 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_40 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_41 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_42 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_43 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_44 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_45 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_46 {c |}{col 40}{res}{space 2} .3521656{col 52}{space 2} 1.659882{col 63}{space 1}    0.21{col 72}{space 3}0.832{col 80}{space 4}-2.901143{col 93}{space 3} 3.605474
{txt}{space 33}cn_47 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_48 {c |}{col 40}{res}{space 2}-2.549177{col 52}{space 2} 1.384767{col 63}{space 1}   -1.84{col 72}{space 3}0.066{col 80}{space 4}-5.263269{col 93}{space 3} .1649158
{txt}{space 33}cn_49 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_50 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_51 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_52 {c |}{col 40}{res}{space 2} .4733322{col 52}{space 2} .6468839{col 63}{space 1}    0.73{col 72}{space 3}0.464{col 80}{space 4} -.794537{col 93}{space 3} 1.741201
{txt}{space 33}cn_53 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_54 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_55 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_56 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_57 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_58 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_59 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_60 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_61 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_62 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_63 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_64 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_65 {c |}{col 40}{res}{space 2}-.8679038{col 52}{space 2} 1.278015{col 63}{space 1}   -0.68{col 72}{space 3}0.497{col 80}{space 4}-3.372768{col 93}{space 3}  1.63696
{txt}{space 33}cn_66 {c |}{col 40}{res}{space 2} 1.197209{col 52}{space 2}  .863938{col 63}{space 1}    1.39{col 72}{space 3}0.166{col 80}{space 4}-.4960785{col 93}{space 3} 2.890496
{txt}{space 33}cn_67 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_68 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_69 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_70 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_71 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_72 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_73 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_74 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_75 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_76 {c |}{col 40}{res}{space 2} .2716961{col 52}{space 2} .8869567{col 63}{space 1}    0.31{col 72}{space 3}0.759{col 80}{space 4}-1.466707{col 93}{space 3} 2.010099
{txt}{space 33}cn_77 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_78 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_79 {c |}{col 40}{res}{space 2}-.0004525{col 52}{space 2} .8291505{col 63}{space 1}   -0.00{col 72}{space 3}1.000{col 80}{space 4}-1.625558{col 93}{space 3} 1.624653
{txt}{space 33}cn_80 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_81 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_82 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_83 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_84 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_85 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_86 {c |}{col 40}{res}{space 2} -.436794{col 52}{space 2} 1.074658{col 63}{space 1}   -0.41{col 72}{space 3}0.684{col 80}{space 4}-2.543084{col 93}{space 3} 1.669496
{txt}{space 33}cn_87 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_88 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_89 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_90 {c |}{col 40}{res}{space 2}-1.518182{col 52}{space 2} 2.369196{col 63}{space 1}   -0.64{col 72}{space 3}0.522{col 80}{space 4}-6.161721{col 93}{space 3} 3.125357
{txt}{space 33}cn_91 {c |}{col 40}{res}{space 2}-.2951962{col 52}{space 2} .9282391{col 63}{space 1}   -0.32{col 72}{space 3}0.750{col 80}{space 4}-2.114511{col 93}{space 3} 1.524119
{txt}{space 33}cn_92 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_93 {c |}{col 40}{res}{space 2} 1.241093{col 52}{space 2} 1.074073{col 63}{space 1}    1.16{col 72}{space 3}0.248{col 80}{space 4}-.8640508{col 93}{space 3} 3.346236
{txt}{space 33}cn_94 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_95 {c |}{col 40}{res}{space 2}-.5632185{col 52}{space 2} 1.519096{col 63}{space 1}   -0.37{col 72}{space 3}0.711{col 80}{space 4}-3.540593{col 93}{space 3} 2.414156
{txt}{space 33}cn_96 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_97 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_98 {c |}{col 40}{res}{space 2}-1.082937{col 52}{space 2} 1.930381{col 63}{space 1}   -0.56{col 72}{space 3}0.575{col 80}{space 4}-4.866414{col 93}{space 3} 2.700539
{txt}{space 33}cn_99 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_100 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_101 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_102 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_103 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_104 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_105 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_106 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_107 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_108 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_109 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_110 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_111 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_112 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_113 {c |}{col 40}{res}{space 2}-2.680754{col 52}{space 2}  1.20627{col 63}{space 1}   -2.22{col 72}{space 3}0.026{col 80}{space 4}   -5.045{col 93}{space 3}-.3165078
{txt}{space 32}cn_114 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_115 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_116 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_117 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_118 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_119 {c |}{col 40}{res}{space 2}-.7325885{col 52}{space 2} .8107976{col 63}{space 1}   -0.90{col 72}{space 3}0.366{col 80}{space 4}-2.321723{col 93}{space 3} .8565456
{txt}{space 32}cn_120 {c |}{col 40}{res}{space 2} .2508864{col 52}{space 2}  1.23143{col 63}{space 1}    0.20{col 72}{space 3}0.839{col 80}{space 4}-2.162672{col 93}{space 3} 2.664445
{txt}{space 32}cn_121 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_122 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_123 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_124 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_125 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_126 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_127 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_128 {c |}{col 40}{res}{space 2} -3.46697{col 52}{space 2} 2.055104{col 63}{space 1}   -1.69{col 72}{space 3}0.092{col 80}{space 4}  -7.4949{col 93}{space 3} .5609594
{txt}{space 32}cn_129 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}year {c |}{col 40}{res}{space 2} .1637869{col 52}{space 2} .1183919{col 63}{space 1}    1.38{col 72}{space 3}0.167{col 80}{space 4} -.068257{col 93}{space 3} .3958308
{txt}{space 19}GlobalReserveLevels {c |}{col 40}{res}{space 2} 4.42e-11{col 52}{space 2} 2.01e-11{col 63}{space 1}    2.20{col 72}{space 3}0.028{col 80}{space 4} 4.80e-12{col 93}{space 3} 8.35e-11
{txt}{space 38} {c |}
{space 10}c.year#c.GlobalReserveLevels {c |}{col 40}{res}{space 2}-2.20e-14{col 52}{space 2} 1.00e-14{col 63}{space 1}   -2.20{col 72}{space 3}0.028{col 80}{space 4}-4.17e-14{col 93}{space 3}-2.40e-15
{txt}{space 38} {c |}
{space 33}_cons {c |}{col 40}{res}{space 2}-328.6031{col 52}{space 2} 237.9922{col 63}{space 1}   -1.38{col 72}{space 3}0.167{col 80}{space 4}-795.0593{col 93}{space 3} 137.8531
{txt}{hline 39}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}c3_lnvar                               {txt}{c |}
{space 33}_cons {c |}{col 40}{res}{space 2} .1713343{col 52}{space 2} .0978023{col 63}{space 1}    1.75{col 72}{space 3}0.080{col 80}{space 4}-.0203546{col 93}{space 3} .3630233
{txt}{hline 39}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}c4_mean                                {txt}{c |}
{space 24}ElectionPeriod {c |}{col 40}{res}{space 2} .6747023{col 52}{space 2} .2581605{col 63}{space 1}    2.61{col 72}{space 3}0.009{col 80}{space 4} .1687171{col 93}{space 3} 1.180688
{txt}{space 19}US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.1414534{col 52}{space 2} .0975683{col 63}{space 1}   -1.45{col 72}{space 3}0.147{col 80}{space 4}-.3326838{col 93}{space 3} .0497769
{txt}{space 38} {c |}
c.ElectionPeriod#c.US10YrYields_AnnAvg {c |}{col 40}{res}{space 2} -.282225{col 52}{space 2} .0793509{col 63}{space 1}   -3.56{col 72}{space 3}0.000{col 80}{space 4}-.4377498{col 93}{space 3}-.1267001
{txt}{space 38} {c |}
{space 26}ElectionYear {c |}{col 40}{res}{space 2} .2169361{col 52}{space 2} .1425147{col 63}{space 1}    1.52{col 72}{space 3}0.128{col 80}{space 4}-.0623876{col 93}{space 3} .4962598
{txt}{space 38} {c |}
{space 17}deltaReserves_Imports {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.1380103{col 52}{space 2} .0631848{col 63}{space 1}   -2.18{col 72}{space 3}0.029{col 80}{space 4}-.2618502{col 93}{space 3}-.0141704
{txt}{space 38} {c |}
{space 31}GDPpcap {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0000855{col 52}{space 2} .0000583{col 63}{space 1}    1.47{col 72}{space 3}0.143{col 80}{space 4}-.0000288{col 93}{space 3} .0001997
{txt}{space 38} {c |}
{space 29}GDPgrowth {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0141255{col 52}{space 2} .0196779{col 63}{space 1}    0.72{col 72}{space 3}0.473{col 80}{space 4}-.0244425{col 93}{space 3} .0526936
{txt}{space 38} {c |}
{space 21}ny_gdp_totl_rt_zs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0113168{col 52}{space 2} .0210298{col 63}{space 1}   -0.54{col 72}{space 3}0.590{col 80}{space 4}-.0525345{col 93}{space 3} .0299008
{txt}{space 38} {c |}
{space 20}CurrAcctBal_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0017023{col 52}{space 2} .0086206{col 63}{space 1}   -0.20{col 72}{space 3}0.843{col 80}{space 4}-.0185984{col 93}{space 3} .0151937
{txt}{space 38} {c |}
{space 18}ExtDebtStocks_PerGNI {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0005138{col 52}{space 2} .0011952{col 63}{space 1}    0.43{col 72}{space 3}0.667{col 80}{space 4}-.0018288{col 93}{space 3} .0028564
{txt}{space 38} {c |}
{space 20}DebtService_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-1.558234{col 52}{space 2} 1.041604{col 63}{space 1}   -1.50{col 72}{space 3}0.135{col 80}{space 4}-3.599741{col 93}{space 3} .4832723
{txt}{space 38} {c |}
{space 14}Inflation_annGDPdeflator {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0090426{col 52}{space 2} .0072752{col 63}{space 1}    1.24{col 72}{space 3}0.214{col 80}{space 4}-.0052166{col 93}{space 3} .0233017
{txt}{space 38} {c |}
{space 16}PegBandManaged_NoUnion {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .1614413{col 52}{space 2} .2300968{col 63}{space 1}    0.70{col 72}{space 3}0.483{col 80}{space 4}-.2895402{col 93}{space 3} .6124227
{txt}{space 38} {c |}
{space 26}lvaw_garriga {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .1729803{col 52}{space 2} .6639963{col 63}{space 1}    0.26{col 72}{space 3}0.794{col 80}{space 4}-1.128429{col 93}{space 3} 1.474389
{txt}{space 38} {c |}
{space 26}Taxes_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} 5.635849{col 52}{space 2} 2.637587{col 63}{space 1}    2.14{col 72}{space 3}0.033{col 80}{space 4} .4662734{col 93}{space 3} 10.80542
{txt}{space 38} {c |}
{space 30}BestCRtg {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0862755{col 52}{space 2} .0327755{col 63}{space 1}    2.63{col 72}{space 3}0.008{col 80}{space 4} .0220368{col 93}{space 3} .1505142
{txt}{space 38} {c |}
{space 34}cyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0424449{col 52}{space 2} .0256353{col 63}{space 1}    1.66{col 72}{space 3}0.098{col 80}{space 4}-.0077993{col 93}{space 3} .0926892
{txt}{space 38} {c |}
{space 34}dyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0257771{col 52}{space 2} .0125382{col 63}{space 1}   -2.06{col 72}{space 3}0.040{col 80}{space 4}-.0503515{col 93}{space 3}-.0012027
{txt}{space 38} {c |}
{space 25}v2x_polyarchy {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.1530199{col 52}{space 2} 1.011508{col 63}{space 1}   -0.15{col 72}{space 3}0.880{col 80}{space 4}-2.135539{col 93}{space 3} 1.829499
{txt}{space 38} {c |}
{space 31}LeftGov {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.1578265{col 52}{space 2} .1334178{col 63}{space 1}   -1.18{col 72}{space 3}0.237{col 80}{space 4}-.4193206{col 93}{space 3} .1036676
{txt}{space 38} {c |}
{space 34}cn_1 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_2 {c |}{col 40}{res}{space 2} .2885464{col 52}{space 2} .4955617{col 63}{space 1}    0.58{col 72}{space 3}0.560{col 80}{space 4}-.6827368{col 93}{space 3}  1.25983
{txt}{space 34}cn_3 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_4 {c |}{col 40}{res}{space 2}-.5530238{col 52}{space 2} .7631879{col 63}{space 1}   -0.72{col 72}{space 3}0.469{col 80}{space 4}-2.048845{col 93}{space 3}  .942797
{txt}{space 34}cn_5 {c |}{col 40}{res}{space 2}-.4341177{col 52}{space 2} .5870893{col 63}{space 1}   -0.74{col 72}{space 3}0.460{col 80}{space 4}-1.584792{col 93}{space 3} .7165561
{txt}{space 34}cn_6 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_7 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_8 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}cn_9 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_10 {c |}{col 40}{res}{space 2} .0263889{col 52}{space 2} .9943337{col 63}{space 1}    0.03{col 72}{space 3}0.979{col 80}{space 4}-1.922469{col 93}{space 3} 1.975247
{txt}{space 33}cn_11 {c |}{col 40}{res}{space 2} .4495358{col 52}{space 2} .5171152{col 63}{space 1}    0.87{col 72}{space 3}0.385{col 80}{space 4}-.5639914{col 93}{space 3} 1.463063
{txt}{space 33}cn_12 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_13 {c |}{col 40}{res}{space 2} .2051369{col 52}{space 2} .4900476{col 63}{space 1}    0.42{col 72}{space 3}0.676{col 80}{space 4}-.7553387{col 93}{space 3} 1.165612
{txt}{space 33}cn_14 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_15 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_16 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_17 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_18 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_19 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_20 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_21 {c |}{col 40}{res}{space 2}-.0837381{col 52}{space 2} .9919258{col 63}{space 1}   -0.08{col 72}{space 3}0.933{col 80}{space 4}-2.027877{col 93}{space 3} 1.860401
{txt}{space 33}cn_22 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_23 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_24 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_25 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_26 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_27 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_28 {c |}{col 40}{res}{space 2} .7880602{col 52}{space 2} .5701238{col 63}{space 1}    1.38{col 72}{space 3}0.167{col 80}{space 4}-.3293619{col 93}{space 3} 1.905482
{txt}{space 33}cn_29 {c |}{col 40}{res}{space 2} .6930788{col 52}{space 2} .5927331{col 63}{space 1}    1.17{col 72}{space 3}0.242{col 80}{space 4}-.4686567{col 93}{space 3} 1.854814
{txt}{space 33}cn_30 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_31 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_32 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_33 {c |}{col 40}{res}{space 2}  .323133{col 52}{space 2} .4377689{col 63}{space 1}    0.74{col 72}{space 3}0.460{col 80}{space 4}-.5348782{col 93}{space 3} 1.181144
{txt}{space 33}cn_34 {c |}{col 40}{res}{space 2} 1.162128{col 52}{space 2} .7622354{col 63}{space 1}    1.52{col 72}{space 3}0.127{col 80}{space 4}-.3318263{col 93}{space 3} 2.656082
{txt}{space 33}cn_35 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_36 {c |}{col 40}{res}{space 2} 1.706888{col 52}{space 2} .7449379{col 63}{space 1}    2.29{col 72}{space 3}0.022{col 80}{space 4} .2468361{col 93}{space 3} 3.166939
{txt}{space 33}cn_37 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_38 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_39 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_40 {c |}{col 40}{res}{space 2} 1.208064{col 52}{space 2}  .639657{col 63}{space 1}    1.89{col 72}{space 3}0.059{col 80}{space 4}-.0456405{col 93}{space 3} 2.461769
{txt}{space 33}cn_41 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_42 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_43 {c |}{col 40}{res}{space 2} -.170245{col 52}{space 2} .5842188{col 63}{space 1}   -0.29{col 72}{space 3}0.771{col 80}{space 4}-1.315293{col 93}{space 3} .9748027
{txt}{space 33}cn_44 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_45 {c |}{col 40}{res}{space 2} 1.391594{col 52}{space 2} .7921707{col 63}{space 1}    1.76{col 72}{space 3}0.079{col 80}{space 4}-.1610325{col 93}{space 3}  2.94422
{txt}{space 33}cn_46 {c |}{col 40}{res}{space 2} 1.302539{col 52}{space 2} .6996986{col 63}{space 1}    1.86{col 72}{space 3}0.063{col 80}{space 4}-.0688452{col 93}{space 3} 2.673923
{txt}{space 33}cn_47 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_48 {c |}{col 40}{res}{space 2} 1.428131{col 52}{space 2} .8717869{col 63}{space 1}    1.64{col 72}{space 3}0.101{col 80}{space 4}-.2805401{col 93}{space 3} 3.136802
{txt}{space 33}cn_49 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_50 {c |}{col 40}{res}{space 2} .2808206{col 52}{space 2} .7010119{col 63}{space 1}    0.40{col 72}{space 3}0.689{col 80}{space 4}-1.093137{col 93}{space 3} 1.654779
{txt}{space 33}cn_51 {c |}{col 40}{res}{space 2} .6488377{col 52}{space 2} .5846053{col 63}{space 1}    1.11{col 72}{space 3}0.267{col 80}{space 4}-.4969677{col 93}{space 3} 1.794643
{txt}{space 33}cn_52 {c |}{col 40}{res}{space 2} .2457324{col 52}{space 2} .5222758{col 63}{space 1}    0.47{col 72}{space 3}0.638{col 80}{space 4}-.7779093{col 93}{space 3} 1.269374
{txt}{space 33}cn_53 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_54 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_55 {c |}{col 40}{res}{space 2} 1.018553{col 52}{space 2} .8300221{col 63}{space 1}    1.23{col 72}{space 3}0.220{col 80}{space 4}-.6082604{col 93}{space 3} 2.645366
{txt}{space 33}cn_56 {c |}{col 40}{res}{space 2} 1.218584{col 52}{space 2} .7205928{col 63}{space 1}    1.69{col 72}{space 3}0.091{col 80}{space 4}-.1937519{col 93}{space 3}  2.63092
{txt}{space 33}cn_57 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_58 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_59 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_60 {c |}{col 40}{res}{space 2}-.1515007{col 52}{space 2} .8582155{col 63}{space 1}   -0.18{col 72}{space 3}0.860{col 80}{space 4}-1.833572{col 93}{space 3} 1.530571
{txt}{space 33}cn_61 {c |}{col 40}{res}{space 2}-.1698656{col 52}{space 2} .6981577{col 63}{space 1}   -0.24{col 72}{space 3}0.808{col 80}{space 4}-1.538229{col 93}{space 3} 1.198498
{txt}{space 33}cn_62 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_63 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_64 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_65 {c |}{col 40}{res}{space 2} .2706293{col 52}{space 2} .4331223{col 63}{space 1}    0.62{col 72}{space 3}0.532{col 80}{space 4}-.5782748{col 93}{space 3} 1.119533
{txt}{space 33}cn_66 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_67 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_68 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_69 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_70 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_71 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_72 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_73 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_74 {c |}{col 40}{res}{space 2} .3578239{col 52}{space 2} .6192531{col 63}{space 1}    0.58{col 72}{space 3}0.563{col 80}{space 4}-.8558899{col 93}{space 3} 1.571538
{txt}{space 33}cn_75 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_76 {c |}{col 40}{res}{space 2} .3435354{col 52}{space 2} .7562103{col 63}{space 1}    0.45{col 72}{space 3}0.650{col 80}{space 4} -1.13861{col 93}{space 3}  1.82568
{txt}{space 33}cn_77 {c |}{col 40}{res}{space 2}  1.50473{col 52}{space 2} .7903603{col 63}{space 1}    1.90{col 72}{space 3}0.057{col 80}{space 4}-.0443478{col 93}{space 3} 3.053808
{txt}{space 33}cn_78 {c |}{col 40}{res}{space 2}-.0096419{col 52}{space 2} .8815914{col 63}{space 1}   -0.01{col 72}{space 3}0.991{col 80}{space 4}-1.737529{col 93}{space 3} 1.718245
{txt}{space 33}cn_79 {c |}{col 40}{res}{space 2} .6004834{col 52}{space 2} .6639726{col 63}{space 1}    0.90{col 72}{space 3}0.366{col 80}{space 4} -.700879{col 93}{space 3} 1.901846
{txt}{space 33}cn_80 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_81 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_82 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_83 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_84 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_85 {c |}{col 40}{res}{space 2} .6686458{col 52}{space 2} .6253288{col 63}{space 1}    1.07{col 72}{space 3}0.285{col 80}{space 4}-.5569761{col 93}{space 3} 1.894268
{txt}{space 33}cn_86 {c |}{col 40}{res}{space 2} .0673436{col 52}{space 2} 1.049563{col 63}{space 1}    0.06{col 72}{space 3}0.949{col 80}{space 4}-1.989762{col 93}{space 3} 2.124449
{txt}{space 33}cn_87 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_88 {c |}{col 40}{res}{space 2}-.0968156{col 52}{space 2} 1.088031{col 63}{space 1}   -0.09{col 72}{space 3}0.929{col 80}{space 4}-2.229316{col 93}{space 3} 2.035685
{txt}{space 33}cn_89 {c |}{col 40}{res}{space 2}-.8803967{col 52}{space 2} 1.409346{col 63}{space 1}   -0.62{col 72}{space 3}0.532{col 80}{space 4}-3.642665{col 93}{space 3} 1.881871
{txt}{space 33}cn_90 {c |}{col 40}{res}{space 2} 1.116016{col 52}{space 2} .7388904{col 63}{space 1}    1.51{col 72}{space 3}0.131{col 80}{space 4} -.332183{col 93}{space 3} 2.564214
{txt}{space 33}cn_91 {c |}{col 40}{res}{space 2} .9423849{col 52}{space 2} .5558308{col 63}{space 1}    1.70{col 72}{space 3}0.090{col 80}{space 4}-.1470235{col 93}{space 3} 2.031793
{txt}{space 33}cn_92 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_93 {c |}{col 40}{res}{space 2} .8577169{col 52}{space 2} .6054903{col 63}{space 1}    1.42{col 72}{space 3}0.157{col 80}{space 4}-.3290223{col 93}{space 3} 2.044456
{txt}{space 33}cn_94 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_95 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_96 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_97 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 33}cn_98 {c |}{col 40}{res}{space 2} .2666405{col 52}{space 2} .5654773{col 63}{space 1}    0.47{col 72}{space 3}0.637{col 80}{space 4}-.8416746{col 93}{space 3} 1.374956
{txt}{space 33}cn_99 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_100 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_101 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_102 {c |}{col 40}{res}{space 2} 1.000085{col 52}{space 2} .6436352{col 63}{space 1}    1.55{col 72}{space 3}0.120{col 80}{space 4}-.2614167{col 93}{space 3} 2.261587
{txt}{space 32}cn_103 {c |}{col 40}{res}{space 2} .5338396{col 52}{space 2} .5778324{col 63}{space 1}    0.92{col 72}{space 3}0.356{col 80}{space 4}-.5986911{col 93}{space 3}  1.66637
{txt}{space 32}cn_104 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_105 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_106 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_107 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_108 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_109 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_110 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_111 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_112 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_113 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_114 {c |}{col 40}{res}{space 2} 1.807391{col 52}{space 2} 2.201803{col 63}{space 1}    0.82{col 72}{space 3}0.412{col 80}{space 4}-2.508064{col 93}{space 3} 6.122847
{txt}{space 32}cn_115 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_116 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_117 {c |}{col 40}{res}{space 2}-.8294815{col 52}{space 2} 1.208239{col 63}{space 1}   -0.69{col 72}{space 3}0.492{col 80}{space 4}-3.197586{col 93}{space 3} 1.538623
{txt}{space 32}cn_118 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_119 {c |}{col 40}{res}{space 2} .6920085{col 52}{space 2} .7325389{col 63}{space 1}    0.94{col 72}{space 3}0.345{col 80}{space 4}-.7437413{col 93}{space 3} 2.127758
{txt}{space 32}cn_120 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_121 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_122 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_123 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_124 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_125 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_126 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_127 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_128 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 32}cn_129 {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 34}year {c |}{col 40}{res}{space 2} .1059994{col 52}{space 2} .0717689{col 63}{space 1}    1.48{col 72}{space 3}0.140{col 80}{space 4} -.034665{col 93}{space 3} .2466639
{txt}{space 19}GlobalReserveLevels {c |}{col 40}{res}{space 2} 1.90e-11{col 52}{space 2} 9.78e-12{col 63}{space 1}    1.94{col 72}{space 3}0.052{col 80}{space 4}-1.86e-13{col 93}{space 3} 3.82e-11
{txt}{space 38} {c |}
{space 10}c.year#c.GlobalReserveLevels {c |}{col 40}{res}{space 2}-9.56e-15{col 52}{space 2} 4.89e-15{col 63}{space 1}   -1.96{col 72}{space 3}0.051{col 80}{space 4}-1.91e-14{col 93}{space 3} 2.39e-17
{txt}{space 38} {c |}
{space 33}_cons {c |}{col 40}{res}{space 2} -213.946{col 52}{space 2} 143.6002{col 63}{space 1}   -1.49{col 72}{space 3}0.136{col 80}{space 4}-495.3972{col 93}{space 3} 67.50513
{txt}{hline 39}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}c4_lnvar                               {txt}{c |}
{space 33}_cons {c |}{col 40}{res}{space 2} .1348356{col 52}{space 2} .0894678{col 63}{space 1}    1.51{col 72}{space 3}0.132{col 80}{space 4}-.0405181{col 93}{space 3} .3101892
{txt}{hline 39}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

{com}. 
. test [c3_mean]c.ElectionPeriod#c.US10YrYields_AnnAvg = [c4_mean]c.ElectionPeriod#c.US10YrYields_AnnAvg

{p 0 7}{space 1}{text:( 1)}{space 1} {res}[c3_mean]c.ElectionPeriod#c.US10YrYields_AnnAvg - [c4_mean]c.ElectionPeriod#c.US10YrYields_AnnAvg = 0{p_end}

{txt}{col 12}chi2(  1) ={res}    3.56
{txt}{col 10}Prob > chi2 =  {res}  0.0590
{txt}
{com}. 
. estout c1a c2a c3a c4a, cells(b(star fmt(%9.3f)) se(par fmt(%9.3f))) starlevels(* 0.1 ** 0.05 ) ///
> stats(r2 N , fmt(%9.2f %9.0f) labels("R2" ))  style(tex) ///
> legend label collabels(none) ///
> varlabels(_cons Constant  "c.ElectionPeriod#c.US10YrYields_AnnAvg" "Election*USrates" "c.year#c.GlobalReserveLevels000" "Year*GlobalReserves") ///
> keep(ElectionPeriod US10YrYields_AnnAvg c.ElectionPeriod#c.US10YrYields_AnnAvg ElectionYear)  ///
> mlabels () ///
> title("") 
{res}
                    &         c1a  &         c2a  &         c3a  &         c4a  \\
ElectionPeriod      &       0.854**&       0.586  &      -0.172  &       0.672**\\
                    &     (0.429)  &     (0.372)  &     (0.515)  &     (0.277)  \\
US10YrYields_AnnAvg &      -0.840**&      -0.165  &      -0.193  &      -0.142  \\
                    &     (0.153)  &     (0.142)  &     (0.233)  &     (0.105)  \\
Election*USrates    &      -0.259**&      -0.257**&       0.015  &      -0.281**\\
                    &     (0.116)  &     (0.115)  &     (0.159)  &     (0.085)  \\
ElectionYear        &       0.088  &       0.057  &      -0.087  &       0.217  \\
                    &     (0.194)  &     (0.202)  &     (0.266)  &     (0.153)  \\
R2                  &        0.35  &        0.11  &        0.25  &        0.13  \\
N                   &         384  &         387  &         186  &         514  \\
* p<0.1, ** p<0.05
{txt}
{com}. 
. ***************************************************************************************************************************************************************************
. *Section F: Multicollinearity
. 
. regress deltaReserves_Imports c.ElectionPeriod c.US10YrYields_AnnAvg ElectionYear l.deltaReserves_Imports l.GDPpcap l.GDPgrowth l.ny_gdp_totl_rt_zs l.CurrAcctBal_PerGDP l.ExtDebtStocks_PerGNI l.DebtService_PerGDP l.Inflation_annGDPdeflator l.PegBandManaged_NoUnion l.lvaw_garriga l.Taxes_PerGDP l.BestCRtg l.cyrs l.dyrs l.v2x_polyarchy l.Left i.country_num c.year##c.GlobalReserveLevels, robust

{txt}Linear regression                               Number of obs     = {res}       700
                                                {txt}{help j_robustsingular:F(69, 628) }       =  {res}        .
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0991
                                                {txt}Root MSE          =    {res} 1.0779

{txt}{hline 29}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 30}{c |}{col 42}    Robust
{col 1}       deltaReserves_Imports{col 30}{c |}      Coef.{col 42}   Std. Err.{col 54}      t{col 62}   P>|t|{col 70}     [95% Con{col 83}f. Interval]
{hline 29}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 14}ElectionPeriod {c |}{col 30}{res}{space 2}-.2126341{col 42}{space 2} .1061117{col 53}{space 1}   -2.00{col 62}{space 3}0.046{col 70}{space 4}-.4210109{col 83}{space 3}-.0042574
{txt}{space 9}US10YrYields_AnnAvg {c |}{col 30}{res}{space 2}-.2474223{col 42}{space 2} .0912578{col 53}{space 1}   -2.71{col 62}{space 3}0.007{col 70}{space 4}-.4266296{col 83}{space 3} -.068215
{txt}{space 16}ElectionYear {c |}{col 30}{res}{space 2} .1547598{col 42}{space 2} .1304676{col 53}{space 1}    1.19{col 62}{space 3}0.236{col 70}{space 4}-.1014457{col 83}{space 3} .4109653
{txt}{space 28} {c |}
{space 7}deltaReserves_Imports {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.1655416{col 42}{space 2} .0567779{col 53}{space 1}   -2.92{col 62}{space 3}0.004{col 70}{space 4}-.2770391{col 83}{space 3}-.0540441
{txt}{space 28} {c |}
{space 21}GDPpcap {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0000945{col 42}{space 2} .0000593{col 53}{space 1}    1.59{col 62}{space 3}0.112{col 70}{space 4} -.000022{col 83}{space 3} .0002109
{txt}{space 28} {c |}
{space 19}GDPgrowth {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0044818{col 42}{space 2} .0178473{col 53}{space 1}    0.25{col 62}{space 3}0.802{col 70}{space 4}-.0305657{col 83}{space 3} .0395294
{txt}{space 28} {c |}
{space 11}ny_gdp_totl_rt_zs {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0103379{col 42}{space 2} .0206247{col 53}{space 1}   -0.50{col 62}{space 3}0.616{col 70}{space 4}-.0508397{col 83}{space 3} .0301639
{txt}{space 28} {c |}
{space 10}CurrAcctBal_PerGDP {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0016787{col 42}{space 2} .0079447{col 53}{space 1}    0.21{col 62}{space 3}0.833{col 70}{space 4}-.0139228{col 83}{space 3} .0172801
{txt}{space 28} {c |}
{space 8}ExtDebtStocks_PerGNI {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0009795{col 42}{space 2} .0011893{col 53}{space 1}   -0.82{col 62}{space 3}0.410{col 70}{space 4} -.003315{col 83}{space 3}  .001356
{txt}{space 28} {c |}
{space 10}DebtService_PerGDP {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.9259011{col 42}{space 2} 1.208168{col 53}{space 1}   -0.77{col 62}{space 3}0.444{col 70}{space 4} -3.29844{col 83}{space 3} 1.446638
{txt}{space 28} {c |}
{space 4}Inflation_annGDPdeflator {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}  .010153{col 42}{space 2} .0075839{col 53}{space 1}    1.34{col 62}{space 3}0.181{col 70}{space 4}  -.00474{col 83}{space 3} .0250459
{txt}{space 28} {c |}
{space 6}PegBandManaged_NoUnion {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .1910293{col 42}{space 2} .1651814{col 53}{space 1}    1.16{col 62}{space 3}0.248{col 70}{space 4}-.1333455{col 83}{space 3}  .515404
{txt}{space 28} {c |}
{space 16}lvaw_garriga {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.6281182{col 42}{space 2} .6216141{col 53}{space 1}   -1.01{col 62}{space 3}0.313{col 70}{space 4}-1.848812{col 83}{space 3} .5925757
{txt}{space 28} {c |}
{space 16}Taxes_PerGDP {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} 4.764517{col 42}{space 2} 2.317856{col 53}{space 1}    2.06{col 62}{space 3}0.040{col 70}{space 4} .2128301{col 83}{space 3} 9.316204
{txt}{space 28} {c |}
{space 20}BestCRtg {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0555793{col 42}{space 2} .0297074{col 53}{space 1}    1.87{col 62}{space 3}0.062{col 70}{space 4}-.0027585{col 83}{space 3} .1139171
{txt}{space 28} {c |}
{space 24}cyrs {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0132137{col 42}{space 2} .0130808{col 53}{space 1}    1.01{col 62}{space 3}0.313{col 70}{space 4}-.0124738{col 83}{space 3} .0389012
{txt}{space 28} {c |}
{space 24}dyrs {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0194636{col 42}{space 2} .0117518{col 53}{space 1}   -1.66{col 62}{space 3}0.098{col 70}{space 4}-.0425411{col 83}{space 3} .0036138
{txt}{space 28} {c |}
{space 15}v2x_polyarchy {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .5136265{col 42}{space 2} .9432678{col 53}{space 1}    0.54{col 62}{space 3}0.586{col 70}{space 4}-1.338714{col 83}{space 3} 2.365967
{txt}{space 28} {c |}
{space 21}LeftGov {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0544304{col 42}{space 2} .1201363{col 53}{space 1}   -0.45{col 62}{space 3}0.651{col 70}{space 4}-.2903479{col 83}{space 3} .1814872
{txt}{space 28} {c |}
{space 17}country_num {c |}
{space 24}ARG  {c |}{col 30}{res}{space 2}-1.257337{col 42}{space 2} .6769249{col 53}{space 1}   -1.86{col 62}{space 3}0.064{col 70}{space 4}-2.586648{col 83}{space 3} .0719732
{txt}{space 24}ARM  {c |}{col 30}{res}{space 2} .0597958{col 42}{space 2}  .300512{col 53}{space 1}    0.20{col 62}{space 3}0.842{col 70}{space 4}-.5303342{col 83}{space 3} .6499258
{txt}{space 24}BGD  {c |}{col 30}{res}{space 2} .0634836{col 42}{space 2} .5006003{col 53}{space 1}    0.13{col 62}{space 3}0.899{col 70}{space 4}-.9195697{col 83}{space 3} 1.046537
{txt}{space 24}BGR  {c |}{col 30}{res}{space 2} .0559439{col 42}{space 2}   .40793{col 53}{space 1}    0.14{col 62}{space 3}0.891{col 70}{space 4}-.7451282{col 83}{space 3} .8570159
{txt}{space 24}BIH  {c |}{col 30}{res}{space 2} .1906801{col 42}{space 2} .3372972{col 53}{space 1}    0.57{col 62}{space 3}0.572{col 70}{space 4}-.4716869{col 83}{space 3}  .853047
{txt}{space 24}BRA  {c |}{col 30}{res}{space 2}-.5871496{col 42}{space 2}  .803078{col 53}{space 1}   -0.73{col 62}{space 3}0.465{col 70}{space 4}-2.164193{col 83}{space 3} .9898937
{txt}{space 24}BWA  {c |}{col 30}{res}{space 2}-.9960276{col 42}{space 2} .7682046{col 53}{space 1}   -1.30{col 62}{space 3}0.195{col 70}{space 4}-2.504588{col 83}{space 3} .5125331
{txt}{space 24}DOM  {c |}{col 30}{res}{space 2}  .143623{col 42}{space 2} .3300824{col 53}{space 1}    0.44{col 62}{space 3}0.664{col 70}{space 4} -.504576{col 83}{space 3} .7918219
{txt}{space 24}ECU  {c |}{col 30}{res}{space 2} .0154508{col 42}{space 2} .3929723{col 53}{space 1}    0.04{col 62}{space 3}0.969{col 70}{space 4}-.7562481{col 83}{space 3} .7871496
{txt}{space 24}GEO  {c |}{col 30}{res}{space 2} .0537773{col 42}{space 2} .2977071{col 53}{space 1}    0.18{col 62}{space 3}0.857{col 70}{space 4}-.5308447{col 83}{space 3} .6383993
{txt}{space 24}GHA  {c |}{col 30}{res}{space 2} .3518976{col 42}{space 2} .5427887{col 53}{space 1}    0.65{col 62}{space 3}0.517{col 70}{space 4}-.7140029{col 83}{space 3} 1.417798
{txt}{space 24}GMB  {c |}{col 30}{res}{space 2} 1.157512{col 42}{space 2} .5907209{col 53}{space 1}    1.96{col 62}{space 3}0.050{col 70}{space 4}-.0025158{col 83}{space 3} 2.317539
{txt}{space 24}GTM  {c |}{col 30}{res}{space 2} .8270458{col 42}{space 2} .3331622{col 53}{space 1}    2.48{col 62}{space 3}0.013{col 70}{space 4} .1727989{col 83}{space 3} 1.481293
{txt}{space 24}HND  {c |}{col 30}{res}{space 2}-.2031384{col 42}{space 2} .2884343{col 53}{space 1}   -0.70{col 62}{space 3}0.482{col 70}{space 4}-.7695508{col 83}{space 3}  .363274
{txt}{space 24}HTI  {c |}{col 30}{res}{space 2} .6751373{col 42}{space 2} .6285358{col 53}{space 1}    1.07{col 62}{space 3}0.283{col 70}{space 4} -.559149{col 83}{space 3} 1.909424
{txt}{space 24}IDN  {c |}{col 30}{res}{space 2} .4822534{col 42}{space 2} .4427337{col 53}{space 1}    1.09{col 62}{space 3}0.276{col 70}{space 4}-.3871644{col 83}{space 3} 1.351671
{txt}{space 24}IND  {c |}{col 30}{res}{space 2} .3862202{col 42}{space 2} .6930137{col 53}{space 1}    0.56{col 62}{space 3}0.578{col 70}{space 4}-.9746845{col 83}{space 3} 1.747125
{txt}{space 24}JAM  {c |}{col 30}{res}{space 2}-.4599126{col 42}{space 2} .5113299{col 53}{space 1}   -0.90{col 62}{space 3}0.369{col 70}{space 4}-1.464036{col 83}{space 3} .5442108
{txt}{space 24}KEN  {c |}{col 30}{res}{space 2} .2783974{col 42}{space 2} .3446418{col 53}{space 1}    0.81{col 62}{space 3}0.420{col 70}{space 4}-.3983924{col 83}{space 3} .9551873
{txt}{space 24}KGZ  {c |}{col 30}{res}{space 2} .0484215{col 42}{space 2} .3663101{col 53}{space 1}    0.13{col 62}{space 3}0.895{col 70}{space 4}-.6709194{col 83}{space 3} .7677625
{txt}{space 24}LBN  {c |}{col 30}{res}{space 2} .5694202{col 42}{space 2} .6136059{col 53}{space 1}    0.93{col 62}{space 3}0.354{col 70}{space 4}-.6355475{col 83}{space 3} 1.774388
{txt}{space 24}LBR  {c |}{col 30}{res}{space 2} .7512512{col 42}{space 2} .6139678{col 53}{space 1}    1.22{col 62}{space 3}0.222{col 70}{space 4}-.4544273{col 83}{space 3}  1.95693
{txt}{space 24}LKA  {c |}{col 30}{res}{space 2}-.0322703{col 42}{space 2} .3979979{col 53}{space 1}   -0.08{col 62}{space 3}0.935{col 70}{space 4} -.813838{col 83}{space 3} .7492975
{txt}{space 24}LSO  {c |}{col 30}{res}{space 2}-.8357249{col 42}{space 2} .7097129{col 53}{space 1}   -1.18{col 62}{space 3}0.239{col 70}{space 4}-2.229423{col 83}{space 3} .5579729
{txt}{space 24}MDA  {c |}{col 30}{res}{space 2} .0209512{col 42}{space 2} .2601794{col 53}{space 1}    0.08{col 62}{space 3}0.936{col 70}{space 4}-.4899757{col 83}{space 3} .5318781
{txt}{space 24}MDG  {c |}{col 30}{res}{space 2} .5014354{col 42}{space 2} .4368968{col 53}{space 1}    1.15{col 62}{space 3}0.252{col 70}{space 4}  -.35652{col 83}{space 3} 1.359391
{txt}{space 24}MNG  {c |}{col 30}{res}{space 2} .0112683{col 42}{space 2} .5028993{col 53}{space 1}    0.02{col 62}{space 3}0.982{col 70}{space 4}-.9762995{col 83}{space 3} .9988361
{txt}{space 24}MOZ  {c |}{col 30}{res}{space 2} .2104557{col 42}{space 2} .6013733{col 53}{space 1}    0.35{col 62}{space 3}0.726{col 70}{space 4}-.9704904{col 83}{space 3} 1.391402
{txt}{space 24}MRT  {c |}{col 30}{res}{space 2} 1.355823{col 42}{space 2} .5928807{col 53}{space 1}    2.29{col 62}{space 3}0.023{col 70}{space 4} .1915544{col 83}{space 3} 2.520092
{txt}{space 24}MUS  {c |}{col 30}{res}{space 2}-.3908586{col 42}{space 2} .5710721{col 53}{space 1}   -0.68{col 62}{space 3}0.494{col 70}{space 4}-1.512301{col 83}{space 3} .7305835
{txt}{space 24}MWI  {c |}{col 30}{res}{space 2} .0888033{col 42}{space 2} .4539942{col 53}{space 1}    0.20{col 62}{space 3}0.845{col 70}{space 4}-.8027272{col 83}{space 3} .9803337
{txt}{space 24}NIC  {c |}{col 30}{res}{space 2}  .538471{col 42}{space 2}  .343138{col 53}{space 1}    1.57{col 62}{space 3}0.117{col 70}{space 4}-.1353659{col 83}{space 3} 1.212308
{txt}{space 24}NPL  {c |}{col 30}{res}{space 2} .0525062{col 42}{space 2} .7731669{col 53}{space 1}    0.07{col 62}{space 3}0.946{col 70}{space 4}-1.465799{col 83}{space 3} 1.570812
{txt}{space 24}PAK  {c |}{col 30}{res}{space 2}-.0592778{col 42}{space 2} .6329522{col 53}{space 1}   -0.09{col 62}{space 3}0.925{col 70}{space 4}-1.302237{col 83}{space 3} 1.183681
{txt}{space 24}PAN  {c |}{col 30}{res}{space 2}-.7773095{col 42}{space 2} .7692514{col 53}{space 1}   -1.01{col 62}{space 3}0.313{col 70}{space 4}-2.287926{col 83}{space 3} .7333068
{txt}{space 24}PER  {c |}{col 30}{res}{space 2} .2507003{col 42}{space 2} .5046874{col 53}{space 1}    0.50{col 62}{space 3}0.620{col 70}{space 4}-.7403789{col 83}{space 3} 1.241779
{txt}{space 24}PHL  {c |}{col 30}{res}{space 2} .5729472{col 42}{space 2} .4177471{col 53}{space 1}    1.37{col 62}{space 3}0.171{col 70}{space 4}-.2474032{col 83}{space 3} 1.393298
{txt}{space 24}PNG  {c |}{col 30}{res}{space 2} .4631921{col 42}{space 2} .5547295{col 53}{space 1}    0.83{col 62}{space 3}0.404{col 70}{space 4}-.6261571{col 83}{space 3} 1.552541
{txt}{space 24}PRY  {c |}{col 30}{res}{space 2} .3833578{col 42}{space 2} .4094917{col 53}{space 1}    0.94{col 62}{space 3}0.350{col 70}{space 4}-.4207809{col 83}{space 3} 1.187496
{txt}{space 24}ROU  {c |}{col 30}{res}{space 2}-.1610998{col 42}{space 2} .4328433{col 53}{space 1}   -0.37{col 62}{space 3}0.710{col 70}{space 4}-1.011095{col 83}{space 3} .6888958
{txt}{space 24}SLE  {c |}{col 30}{res}{space 2} .6795258{col 42}{space 2} .4862789{col 53}{space 1}    1.40{col 62}{space 3}0.163{col 70}{space 4}-.2754037{col 83}{space 3} 1.634455
{txt}{space 24}SLV  {c |}{col 30}{res}{space 2} .2395185{col 42}{space 2} .2942202{col 53}{space 1}    0.81{col 62}{space 3}0.416{col 70}{space 4}-.3382561{col 83}{space 3} .8172931
{txt}{space 24}THA  {c |}{col 30}{res}{space 2}-.5856699{col 42}{space 2} .5526997{col 53}{space 1}   -1.06{col 62}{space 3}0.290{col 70}{space 4}-1.671033{col 83}{space 3} .4996935
{txt}{space 24}TLS  {c |}{col 30}{res}{space 2} 2.409462{col 42}{space 2} 2.002862{col 53}{space 1}    1.20{col 62}{space 3}0.229{col 70}{space 4}-1.523657{col 83}{space 3}  6.34258
{txt}{space 24}TUN  {c |}{col 30}{res}{space 2}-.2892331{col 42}{space 2} .6640511{col 53}{space 1}   -0.44{col 62}{space 3}0.663{col 70}{space 4}-1.593262{col 83}{space 3} 1.014796
{txt}{space 24}TZA  {c |}{col 30}{res}{space 2} .2468289{col 42}{space 2} .4771439{col 53}{space 1}    0.52{col 62}{space 3}0.605{col 70}{space 4}-.6901619{col 83}{space 3}  1.18382
{txt}{space 24}UKR  {c |}{col 30}{res}{space 2}-.2643319{col 42}{space 2} .4479996{col 53}{space 1}   -0.59{col 62}{space 3}0.555{col 70}{space 4}-1.144091{col 83}{space 3} .6154267
{txt}{space 24}ZAF  {c |}{col 30}{res}{space 2}-.3389951{col 42}{space 2} .5927321{col 53}{space 1}   -0.57{col 62}{space 3}0.568{col 70}{space 4}-1.502972{col 83}{space 3} .8249816
{txt}{space 24}ZMB  {c |}{col 30}{res}{space 2} .1510665{col 42}{space 2} .5396591{col 53}{space 1}    0.28{col 62}{space 3}0.780{col 70}{space 4}-.9086883{col 83}{space 3} 1.210821
{txt}{space 28} {c |}
{space 24}year {c |}{col 30}{res}{space 2} .1397678{col 42}{space 2}  .057551{col 53}{space 1}    2.43{col 62}{space 3}0.015{col 70}{space 4} .0267522{col 83}{space 3} .2527835
{txt}{space 9}GlobalReserveLevels {c |}{col 30}{res}{space 2} 2.14e-11{col 42}{space 2} 8.80e-12{col 53}{space 1}    2.44{col 62}{space 3}0.015{col 70}{space 4} 4.17e-12{col 83}{space 3} 3.87e-11
{txt}{space 28} {c |}
c.year#c.GlobalReserveLevels {c |}{col 30}{res}{space 2}-1.08e-14{col 42}{space 2} 4.40e-15{col 53}{space 1}   -2.45{col 62}{space 3}0.015{col 70}{space 4}-1.94e-14{col 83}{space 3}-2.14e-15
{txt}{space 28} {c |}
{space 23}_cons {c |}{col 30}{res}{space 2}-280.0217{col 42}{space 2} 115.1454{col 53}{space 1}   -2.43{col 62}{space 3}0.015{col 70}{space 4}-506.1383{col 83}{space 3}-53.90512
{txt}{hline 29}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store c1
{txt}
{com}. 
. vif

{txt}    Variable {c |}       VIF       1/VIF  
{hline 13}{c +}{hline 22}
ElectionPe~d {c |} {res}     1.68    0.593772
{txt}US10YrYiel~g {c |} {res}     6.67    0.149926
{txt}ElectionYear {c |} {res}     1.65    0.605220
{txt}deltaReser~s {c |}
{space 9}L1. {c |} {res}     1.18    0.846757
{txt}{space 5}GDPpcap {c |}
{space 9}L1. {c |} {res}    33.03    0.030280
{txt}{space 3}GDPgrowth {c |}
{space 9}L1. {c |} {res}     1.40    0.712634
{txt}ny_gdp_tot~s {c |}
{space 9}L1. {c |} {res}     7.08    0.141212
{txt}CurrAcctBa~P {c |}
{space 9}L1. {c |} {res}     2.42    0.413828
{txt}ExtDebtSto~I {c |}
{space 9}L1. {c |} {res}     2.48    0.403892
{txt}DebtServic~P {c |}
{space 9}L1. {c |} {res}     2.17    0.460483
{txt}Inflation_~r {c |}
{space 9}L1. {c |} {res}     1.72    0.582121
{txt}PegBandMan~n {c |}
{space 9}L1. {c |} {res}     3.14    0.318810
{txt}lvaw_garriga {c |}
{space 9}L1. {c |} {res}    26.10    0.038316
{txt}Taxes_PerGDP {c |}
{space 9}L1. {c |} {res}    12.03    0.083136
{txt}{space 4}BestCRtg {c |}
{space 9}L1. {c |} {res}     9.72    0.102867
{txt}{space 8}cyrs {c |}
{space 9}L1. {c |} {res}    19.06    0.052463
{txt}{space 8}dyrs {c |}
{space 9}L1. {c |} {res}     3.54    0.282834
{txt}v2x_polyar~y {c |}
{space 9}L1. {c |} {res}    10.68    0.093594
{txt}{space 5}LeftGov {c |}
{space 9}L1. {c |} {res}     2.32    0.431537
{txt}{space 1}country_num {c |}
{space 10}7  {c |} {res}    11.55    0.086573
{txt}{space 10}8  {c |} {res}     1.14    0.880599
{txt}{space 9}18  {c |} {res}     3.09    0.323982
{txt}{space 9}19  {c |} {res}     3.93    0.254403
{txt}{space 9}22  {c |} {res}     3.42    0.292340
{txt}{space 9}27  {c |} {res}    13.32    0.075055
{txt}{space 9}31  {c |} {res}     6.18    0.161915
{txt}{space 9}55  {c |} {res}     3.18    0.314078
{txt}{space 9}57  {c |} {res}     3.58    0.279471
{txt}{space 9}70  {c |} {res}     2.17    0.460720
{txt}{space 9}71  {c |} {res}     5.97    0.167490
{txt}{space 9}74  {c |} {res}     1.38    0.725034
{txt}{space 9}80  {c |} {res}     3.06    0.326329
{txt}{space 9}84  {c |} {res}     1.85    0.540446
{txt}{space 9}86  {c |} {res}     2.20    0.453820
{txt}{space 9}88  {c |} {res}     3.81    0.262658
{txt}{space 9}90  {c |} {res}     7.53    0.132868
{txt}{space 9}97  {c |} {res}     6.76    0.147882
{txt}{space 8}101  {c |} {res}     2.76    0.362461
{txt}{space 8}102  {c |} {res}     2.21    0.452853
{txt}{space 8}109  {c |} {res}     5.57    0.179406
{txt}{space 8}110  {c |} {res}     4.72    0.212029
{txt}{space 8}114  {c |} {res}     2.47    0.405258
{txt}{space 8}115  {c |} {res}     6.80    0.147040
{txt}{space 8}123  {c |} {res}     2.30    0.435017
{txt}{space 8}124  {c |} {res}     2.84    0.351716
{txt}{space 8}133  {c |} {res}     4.82    0.207598
{txt}{space 8}135  {c |} {res}     5.05    0.198068
{txt}{space 8}136  {c |} {res}     1.36    0.735367
{txt}{space 8}137  {c |} {res}     5.91    0.169255
{txt}{space 8}138  {c |} {res}     5.79    0.172790
{txt}{space 8}144  {c |} {res}     2.20    0.455174
{txt}{space 8}147  {c |} {res}     2.12    0.470603
{txt}{space 8}151  {c |} {res}     4.05    0.247218
{txt}{space 8}152  {c |} {res}    17.48    0.057196
{txt}{space 8}153  {c |} {res}     4.54    0.220040
{txt}{space 8}154  {c |} {res}     3.58    0.279332
{txt}{space 8}156  {c |} {res}     4.48    0.223030
{txt}{space 8}161  {c |} {res}     3.88    0.257639
{txt}{space 8}165  {c |} {res}     4.33    0.231155
{txt}{space 8}173  {c |} {res}     3.51    0.285285
{txt}{space 8}174  {c |} {res}     2.74    0.365440
{txt}{space 8}191  {c |} {res}     4.18    0.239407
{txt}{space 8}194  {c |} {res}     4.44    0.225121
{txt}{space 8}197  {c |} {res}     4.07    0.245942
{txt}{space 8}200  {c |} {res}     3.22    0.310885
{txt}{space 8}202  {c |} {res}     2.53    0.395246
{txt}{space 8}215  {c |} {res}     9.12    0.109670
{txt}{space 8}216  {c |} {res}     3.81    0.262447
{txt}{space 8}year {c |} {res}    73.61    0.013586
{txt}GlobalRese~s {c |} {res}574137.50    0.000002
{txt}{space 6}c.year#{c |}
{space 10}c. {c |}
GlobalRese~s {c |} {res}586015.75    0.000002
{txt}{hline 13}{c +}{hline 22}
    Mean VIF {c |} {res} 16346.42
{txt}
{com}. 
. 
. regress deltaReserves_Imports c.ElectionPeriod##c.US10YrYields_AnnAvg ElectionYear l.deltaReserves_Imports l.GDPgrowth l.CurrAcctBal_PerGDP l.ExtDebtStocks_PerGNI l.DebtService_PerGDP l.Inflation_annGDPdeflator l.PegBandManaged_NoUnion l.Left i.year i.country_num, robust
{p 0 6 2}{txt}note: 2021.year omitted because of collinearity{p_end}

Linear regression                               Number of obs     = {res}       847
                                                {txt}F(84, 762)        =  {res}     4.91
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.3443
                                                {txt}Root MSE          =    {res} 1.1536

{txt}{hline 39}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 40}{c |}{col 52}    Robust
{col 1}                 deltaReserves_Imports{col 40}{c |}      Coef.{col 52}   Std. Err.{col 64}      t{col 72}   P>|t|{col 80}     [95% Con{col 93}f. Interval]
{hline 39}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 24}ElectionPeriod {c |}{col 40}{res}{space 2} .4309093{col 52}{space 2} .2605525{col 63}{space 1}    1.65{col 72}{space 3}0.099{col 80}{space 4}-.0805766{col 93}{space 3} .9423952
{txt}{space 19}US10YrYields_AnnAvg {c |}{col 40}{res}{space 2} .3959633{col 52}{space 2} .1075807{col 63}{space 1}    3.68{col 72}{space 3}0.000{col 80}{space 4} .1847735{col 93}{space 3} .6071531
{txt}{space 38} {c |}
c.ElectionPeriod#c.US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.1556697{col 52}{space 2} .0774773{col 63}{space 1}   -2.01{col 72}{space 3}0.045{col 80}{space 4}-.3077641{col 93}{space 3}-.0035754
{txt}{space 38} {c |}
{space 26}ElectionYear {c |}{col 40}{res}{space 2}-.1230428{col 52}{space 2} .1154802{col 63}{space 1}   -1.07{col 72}{space 3}0.287{col 80}{space 4}-.3497398{col 93}{space 3} .1036542
{txt}{space 38} {c |}
{space 17}deltaReserves_Imports {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.1117291{col 52}{space 2} .0616593{col 63}{space 1}   -1.81{col 72}{space 3}0.070{col 80}{space 4}-.2327714{col 93}{space 3} .0093131
{txt}{space 38} {c |}
{space 29}GDPgrowth {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0033551{col 52}{space 2} .0210314{col 63}{space 1}   -0.16{col 72}{space 3}0.873{col 80}{space 4}-.0446414{col 93}{space 3} .0379312
{txt}{space 38} {c |}
{space 20}CurrAcctBal_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0106913{col 52}{space 2} .0067207{col 63}{space 1}   -1.59{col 72}{space 3}0.112{col 80}{space 4}-.0238846{col 93}{space 3} .0025021
{txt}{space 38} {c |}
{space 18}ExtDebtStocks_PerGNI {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0002037{col 52}{space 2} .0011784{col 63}{space 1}   -0.17{col 72}{space 3}0.863{col 80}{space 4}-.0025169{col 93}{space 3} .0021095
{txt}{space 38} {c |}
{space 20}DebtService_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} 1.265857{col 52}{space 2}  1.95016{col 63}{space 1}    0.65{col 72}{space 3}0.516{col 80}{space 4}-2.562468{col 93}{space 3} 5.094182
{txt}{space 38} {c |}
{space 14}Inflation_annGDPdeflator {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0049555{col 52}{space 2} .0083619{col 63}{space 1}   -0.59{col 72}{space 3}0.554{col 80}{space 4}-.0213705{col 93}{space 3} .0114595
{txt}{space 38} {c |}
{space 16}PegBandManaged_NoUnion {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}  .140283{col 52}{space 2} .1497457{col 63}{space 1}    0.94{col 72}{space 3}0.349{col 80}{space 4}-.1536801{col 93}{space 3} .4342462
{txt}{space 38} {c |}
{space 31}LeftGov {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0383088{col 52}{space 2}  .110775{col 63}{space 1}    0.35{col 72}{space 3}0.730{col 80}{space 4}-.1791517{col 93}{space 3} .2557692
{txt}{space 38} {c |}
{space 34}year {c |}
{space 33}2002  {c |}{col 40}{res}{space 2} .0738255{col 52}{space 2} .2740899{col 63}{space 1}    0.27{col 72}{space 3}0.788{col 80}{space 4}-.4642355{col 93}{space 3} .6118866
{txt}{space 33}2003  {c |}{col 40}{res}{space 2} .2998604{col 52}{space 2} .3331855{col 63}{space 1}    0.90{col 72}{space 3}0.368{col 80}{space 4}-.3542101{col 93}{space 3}  .953931
{txt}{space 33}2004  {c |}{col 40}{res}{space 2}-.1478289{col 52}{space 2} .2179151{col 63}{space 1}   -0.68{col 72}{space 3}0.498{col 80}{space 4}-.5756142{col 93}{space 3} .2799563
{txt}{space 33}2005  {c |}{col 40}{res}{space 2}-.1030708{col 52}{space 2} .2560317{col 63}{space 1}   -0.40{col 72}{space 3}0.687{col 80}{space 4} -.605682{col 93}{space 3} .3995404
{txt}{space 33}2006  {c |}{col 40}{res}{space 2}   .29144{col 52}{space 2} .2796468{col 63}{space 1}    1.04{col 72}{space 3}0.298{col 80}{space 4}-.2575296{col 93}{space 3} .8404096
{txt}{space 33}2007  {c |}{col 40}{res}{space 2} .3064488{col 52}{space 2} .2859339{col 63}{space 1}    1.07{col 72}{space 3}0.284{col 80}{space 4}-.2548628{col 93}{space 3} .8677605
{txt}{space 33}2008  {c |}{col 40}{res}{space 2}-.4739114{col 52}{space 2} .2639788{col 63}{space 1}   -1.80{col 72}{space 3}0.073{col 80}{space 4}-.9921234{col 93}{space 3} .0443006
{txt}{space 33}2009  {c |}{col 40}{res}{space 2} 2.142194{col 52}{space 2} .2818258{col 63}{space 1}    7.60{col 72}{space 3}0.000{col 80}{space 4} 1.588947{col 93}{space 3} 2.695441
{txt}{space 33}2010  {c |}{col 40}{res}{space 2} .0217349{col 52}{space 2} .2706882{col 63}{space 1}    0.08{col 72}{space 3}0.936{col 80}{space 4}-.5096482{col 93}{space 3} .5531179
{txt}{space 33}2011  {c |}{col 40}{res}{space 2}-.3351733{col 52}{space 2} .3091707{col 63}{space 1}   -1.08{col 72}{space 3}0.279{col 80}{space 4}-.9421007{col 93}{space 3}  .271754
{txt}{space 33}2012  {c |}{col 40}{res}{space 2} .8607601{col 52}{space 2}  .358956{col 63}{space 1}    2.40{col 72}{space 3}0.017{col 80}{space 4} .1561001{col 93}{space 3}  1.56542
{txt}{space 33}2013  {c |}{col 40}{res}{space 2} .3326535{col 52}{space 2} .3020294{col 63}{space 1}    1.10{col 72}{space 3}0.271{col 80}{space 4}-.2602551{col 93}{space 3}  .925562
{txt}{space 33}2014  {c |}{col 40}{res}{space 2} .4645106{col 52}{space 2} .3082215{col 63}{space 1}    1.51{col 72}{space 3}0.132{col 80}{space 4}-.1405535{col 93}{space 3} 1.069575
{txt}{space 33}2015  {c |}{col 40}{res}{space 2} 1.246224{col 52}{space 2}  .326354{col 63}{space 1}    3.82{col 72}{space 3}0.000{col 80}{space 4} .6055646{col 93}{space 3} 1.886884
{txt}{space 33}2016  {c |}{col 40}{res}{space 2} 1.141509{col 52}{space 2} .3180898{col 63}{space 1}    3.59{col 72}{space 3}0.000{col 80}{space 4} .5170721{col 93}{space 3} 1.765945
{txt}{space 33}2017  {c |}{col 40}{res}{space 2} .5941524{col 52}{space 2}  .309288{col 63}{space 1}    1.92{col 72}{space 3}0.055{col 80}{space 4}-.0130053{col 93}{space 3}  1.20131
{txt}{space 33}2018  {c |}{col 40}{res}{space 2}-.1747733{col 52}{space 2} .2818207{col 63}{space 1}   -0.62{col 72}{space 3}0.535{col 80}{space 4}-.7280104{col 93}{space 3} .3784637
{txt}{space 33}2019  {c |}{col 40}{res}{space 2} .7720698{col 52}{space 2} .3117429{col 63}{space 1}    2.48{col 72}{space 3}0.013{col 80}{space 4} .1600929{col 93}{space 3} 1.384047
{txt}{space 33}2020  {c |}{col 40}{res}{space 2} 3.111947{col 52}{space 2} .5396241{col 63}{space 1}    5.77{col 72}{space 3}0.000{col 80}{space 4} 2.052621{col 93}{space 3} 4.171274
{txt}{space 33}2021  {c |}{col 40}{res}{space 2}        0{col 52}{txt}  (omitted)
{space 38} {c |}
{space 27}country_num {c |}
{space 34}ARG  {c |}{col 40}{res}{space 2} .0280844{col 52}{space 2} .3610964{col 63}{space 1}    0.08{col 72}{space 3}0.938{col 80}{space 4}-.6807774{col 93}{space 3} .7369461
{txt}{space 34}ARM  {c |}{col 40}{res}{space 2} .1205617{col 52}{space 2} .4440881{col 63}{space 1}    0.27{col 72}{space 3}0.786{col 80}{space 4}-.7512198{col 93}{space 3} .9923431
{txt}{space 34}BGD  {c |}{col 40}{res}{space 2} .1809527{col 52}{space 2} .2441587{col 63}{space 1}    0.74{col 72}{space 3}0.459{col 80}{space 4} -.298351{col 93}{space 3} .6602563
{txt}{space 34}BGR  {c |}{col 40}{res}{space 2} .1514065{col 52}{space 2} .2452822{col 63}{space 1}    0.62{col 72}{space 3}0.537{col 80}{space 4}-.3301026{col 93}{space 3} .6329156
{txt}{space 34}BIH  {c |}{col 40}{res}{space 2} .2935241{col 52}{space 2} .2248394{col 63}{space 1}    1.31{col 72}{space 3}0.192{col 80}{space 4} -.147854{col 93}{space 3} .7349022
{txt}{space 34}BOL  {c |}{col 40}{res}{space 2} .0687104{col 52}{space 2} .4129896{col 63}{space 1}    0.17{col 72}{space 3}0.868{col 80}{space 4} -.742022{col 93}{space 3} .8794428
{txt}{space 34}BRA  {c |}{col 40}{res}{space 2} .2523504{col 52}{space 2} .4397118{col 63}{space 1}    0.57{col 72}{space 3}0.566{col 80}{space 4}  -.61084{col 93}{space 3} 1.115541
{txt}{space 34}BWA  {c |}{col 40}{res}{space 2}-.9439993{col 52}{space 2} .5927424{col 63}{space 1}   -1.59{col 72}{space 3}0.112{col 80}{space 4}-2.107601{col 93}{space 3} .2196026
{txt}{space 34}DOM  {c |}{col 40}{res}{space 2} .1786849{col 52}{space 2} .2357878{col 63}{space 1}    0.76{col 72}{space 3}0.449{col 80}{space 4}-.2841859{col 93}{space 3} .6415558
{txt}{space 34}ECU  {c |}{col 40}{res}{space 2}  .006971{col 52}{space 2} .2435045{col 63}{space 1}    0.03{col 72}{space 3}0.977{col 80}{space 4}-.4710483{col 93}{space 3} .4849903
{txt}{space 34}GEO  {c |}{col 40}{res}{space 2} .0648314{col 52}{space 2} .2114353{col 63}{space 1}    0.31{col 72}{space 3}0.759{col 80}{space 4}-.3502334{col 93}{space 3} .4798962
{txt}{space 34}GHA  {c |}{col 40}{res}{space 2} .0835502{col 52}{space 2} .3205175{col 63}{space 1}    0.26{col 72}{space 3}0.794{col 80}{space 4} -.545652{col 93}{space 3} .7127523
{txt}{space 34}GMB  {c |}{col 40}{res}{space 2} 1.663915{col 52}{space 2} 1.038493{col 63}{space 1}    1.60{col 72}{space 3}0.110{col 80}{space 4}-.3747316{col 93}{space 3} 3.702561
{txt}{space 34}GTM  {c |}{col 40}{res}{space 2} .2748018{col 52}{space 2} .2271481{col 63}{space 1}    1.21{col 72}{space 3}0.227{col 80}{space 4}-.1711086{col 93}{space 3} .7207123
{txt}{space 34}HND  {c |}{col 40}{res}{space 2} -.252835{col 52}{space 2} .2942048{col 63}{space 1}   -0.86{col 72}{space 3}0.390{col 80}{space 4}-.8303832{col 93}{space 3} .3247132
{txt}{space 34}HTI  {c |}{col 40}{res}{space 2} .3472247{col 52}{space 2} .5149511{col 63}{space 1}    0.67{col 72}{space 3}0.500{col 80}{space 4}-.6636665{col 93}{space 3} 1.358116
{txt}{space 34}IDN  {c |}{col 40}{res}{space 2} .0320814{col 52}{space 2} .2741485{col 63}{space 1}    0.12{col 72}{space 3}0.907{col 80}{space 4}-.5060945{col 93}{space 3} .5702573
{txt}{space 34}IND  {c |}{col 40}{res}{space 2} .1382211{col 52}{space 2} .3937087{col 63}{space 1}    0.35{col 72}{space 3}0.726{col 80}{space 4}-.6346615{col 93}{space 3} .9111037
{txt}{space 34}JAM  {c |}{col 40}{res}{space 2} .1073725{col 52}{space 2}  .287035{col 63}{space 1}    0.37{col 72}{space 3}0.708{col 80}{space 4}-.4561007{col 93}{space 3} .6708458
{txt}{space 34}KEN  {c |}{col 40}{res}{space 2} .1335606{col 52}{space 2} .2652547{col 63}{space 1}    0.50{col 72}{space 3}0.615{col 80}{space 4}-.3871562{col 93}{space 3} .6542774
{txt}{space 34}KGZ  {c |}{col 40}{res}{space 2} .0090502{col 52}{space 2} .2463663{col 63}{space 1}    0.04{col 72}{space 3}0.971{col 80}{space 4} -.474587{col 93}{space 3} .4926874
{txt}{space 34}LBN  {c |}{col 40}{res}{space 2} .6610418{col 52}{space 2} .7852386{col 63}{space 1}    0.84{col 72}{space 3}0.400{col 80}{space 4}-.8804461{col 93}{space 3}  2.20253
{txt}{space 34}LBR  {c |}{col 40}{res}{space 2} .0639017{col 52}{space 2} .3682452{col 63}{space 1}    0.17{col 72}{space 3}0.862{col 80}{space 4}-.6589937{col 93}{space 3} .7867972
{txt}{space 34}LKA  {c |}{col 40}{res}{space 2}-.0817621{col 52}{space 2}  .301222{col 63}{space 1}   -0.27{col 72}{space 3}0.786{col 80}{space 4}-.6730857{col 93}{space 3} .5095614
{txt}{space 34}LSO  {c |}{col 40}{res}{space 2} .0201373{col 52}{space 2} .3492453{col 63}{space 1}    0.06{col 72}{space 3}0.954{col 80}{space 4}-.6654598{col 93}{space 3} .7057344
{txt}{space 34}MDA  {c |}{col 40}{res}{space 2} .0813858{col 52}{space 2}  .231014{col 63}{space 1}    0.35{col 72}{space 3}0.725{col 80}{space 4}-.3721137{col 93}{space 3} .5348853
{txt}{space 34}MDG  {c |}{col 40}{res}{space 2} .0860858{col 52}{space 2} .2988274{col 63}{space 1}    0.29{col 72}{space 3}0.773{col 80}{space 4}-.5005369{col 93}{space 3} .6727085
{txt}{space 34}MKD  {c |}{col 40}{res}{space 2} .0395954{col 52}{space 2} .2733559{col 63}{space 1}    0.14{col 72}{space 3}0.885{col 80}{space 4}-.4970247{col 93}{space 3} .5762155
{txt}{space 34}MNG  {c |}{col 40}{res}{space 2} .0354084{col 52}{space 2} .3632515{col 63}{space 1}    0.10{col 72}{space 3}0.922{col 80}{space 4} -.677684{col 93}{space 3} .7485008
{txt}{space 34}MOZ  {c |}{col 40}{res}{space 2}-.3306237{col 52}{space 2} .3124311{col 63}{space 1}   -1.06{col 72}{space 3}0.290{col 80}{space 4}-.9439516{col 93}{space 3} .2827043
{txt}{space 34}MRT  {c |}{col 40}{res}{space 2} .3793569{col 52}{space 2} .3240131{col 63}{space 1}    1.17{col 72}{space 3}0.242{col 80}{space 4}-.2567074{col 93}{space 3} 1.015421
{txt}{space 34}MUS  {c |}{col 40}{res}{space 2} .1552594{col 52}{space 2} .2783707{col 63}{space 1}    0.56{col 72}{space 3}0.577{col 80}{space 4}-.3912052{col 93}{space 3}  .701724
{txt}{space 34}MWI  {c |}{col 40}{res}{space 2}-.2361786{col 52}{space 2} .3422766{col 63}{space 1}   -0.69{col 72}{space 3}0.490{col 80}{space 4}-.9080956{col 93}{space 3} .4357384
{txt}{space 34}NGA  {c |}{col 40}{res}{space 2} .2455568{col 52}{space 2} .4810702{col 63}{space 1}    0.51{col 72}{space 3}0.610{col 80}{space 4}-.6988235{col 93}{space 3} 1.189937
{txt}{space 34}NIC  {c |}{col 40}{res}{space 2}-.0223236{col 52}{space 2} .2196391{col 63}{space 1}   -0.10{col 72}{space 3}0.919{col 80}{space 4}-.4534933{col 93}{space 3}  .408846
{txt}{space 34}NPL  {c |}{col 40}{res}{space 2}-.2589204{col 52}{space 2} .7996766{col 63}{space 1}   -0.32{col 72}{space 3}0.746{col 80}{space 4}-1.828751{col 93}{space 3}  1.31091
{txt}{space 34}PAK  {c |}{col 40}{res}{space 2} .0959364{col 52}{space 2} .4384703{col 63}{space 1}    0.22{col 72}{space 3}0.827{col 80}{space 4}-.7648167{col 93}{space 3} .9566895
{txt}{space 34}PAN  {c |}{col 40}{res}{space 2} .0742416{col 52}{space 2} .2550351{col 63}{space 1}    0.29{col 72}{space 3}0.771{col 80}{space 4}-.4264133{col 93}{space 3} .5748964
{txt}{space 34}PER  {c |}{col 40}{res}{space 2} .2786932{col 52}{space 2} .3365519{col 63}{space 1}    0.83{col 72}{space 3}0.408{col 80}{space 4}-.3819858{col 93}{space 3} .9393722
{txt}{space 34}PHL  {c |}{col 40}{res}{space 2} .1599764{col 52}{space 2} .3355449{col 63}{space 1}    0.48{col 72}{space 3}0.634{col 80}{space 4}-.4987258{col 93}{space 3} .8186786
{txt}{space 34}PNG  {c |}{col 40}{res}{space 2} .2840575{col 52}{space 2} .3018202{col 63}{space 1}    0.94{col 72}{space 3}0.347{col 80}{space 4}-.3084403{col 93}{space 3} .8765554
{txt}{space 34}PRY  {c |}{col 40}{res}{space 2} .1904889{col 52}{space 2} .2706685{col 63}{space 1}    0.70{col 72}{space 3}0.482{col 80}{space 4}-.3408555{col 93}{space 3} .7218333
{txt}{space 34}ROU  {c |}{col 40}{res}{space 2} .0553405{col 52}{space 2} .2634381{col 63}{space 1}    0.21{col 72}{space 3}0.834{col 80}{space 4}-.4618101{col 93}{space 3} .5724911
{txt}{space 34}SLE  {c |}{col 40}{res}{space 2} .1472241{col 52}{space 2} .2797229{col 63}{space 1}    0.53{col 72}{space 3}0.599{col 80}{space 4}-.4018949{col 93}{space 3}  .696343
{txt}{space 34}SLV  {c |}{col 40}{res}{space 2}-.2242766{col 52}{space 2}  .250463{col 63}{space 1}   -0.90{col 72}{space 3}0.371{col 80}{space 4}-.7159559{col 93}{space 3} .2674028
{txt}{space 34}THA  {c |}{col 40}{res}{space 2}-.3651401{col 52}{space 2} .3082768{col 63}{space 1}   -1.18{col 72}{space 3}0.237{col 80}{space 4}-.9703127{col 93}{space 3} .2400324
{txt}{space 34}TLS  {c |}{col 40}{res}{space 2} .2455795{col 52}{space 2} .8677161{col 63}{space 1}    0.28{col 72}{space 3}0.777{col 80}{space 4}-1.457818{col 93}{space 3} 1.948977
{txt}{space 34}TUN  {c |}{col 40}{res}{space 2} .1627732{col 52}{space 2} .3226204{col 63}{space 1}    0.50{col 72}{space 3}0.614{col 80}{space 4}-.4705573{col 93}{space 3} .7961036
{txt}{space 34}TZA  {c |}{col 40}{res}{space 2}-.1902681{col 52}{space 2} .3078704{col 63}{space 1}   -0.62{col 72}{space 3}0.537{col 80}{space 4} -.794643{col 93}{space 3} .4141068
{txt}{space 34}UKR  {c |}{col 40}{res}{space 2}-.1620746{col 52}{space 2} .2823162{col 63}{space 1}   -0.57{col 72}{space 3}0.566{col 80}{space 4}-.7162844{col 93}{space 3} .3921352
{txt}{space 34}VEN  {c |}{col 40}{res}{space 2}-.1690499{col 52}{space 2}  .988447{col 63}{space 1}   -0.17{col 72}{space 3}0.864{col 80}{space 4}-2.109452{col 93}{space 3} 1.771353
{txt}{space 34}ZAF  {c |}{col 40}{res}{space 2}-.0025557{col 52}{space 2} .2477752{col 63}{space 1}   -0.01{col 72}{space 3}0.992{col 80}{space 4}-.4889587{col 93}{space 3} .4838472
{txt}{space 34}ZMB  {c |}{col 40}{res}{space 2} .0365413{col 52}{space 2}  .348551{col 63}{space 1}    0.10{col 72}{space 3}0.917{col 80}{space 4}-.6476928{col 93}{space 3} .7207755
{txt}{space 38} {c |}
{space 33}_cons {c |}{col 40}{res}{space 2}-1.677615{col 52}{space 2} .4795822{col 63}{space 1}   -3.50{col 72}{space 3}0.000{col 80}{space 4}-2.619074{col 93}{space 3}-.7361559
{txt}{hline 39}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store c2
{txt}
{com}. 
. vif

{txt}    Variable {c |}       VIF       1/VIF  
{hline 13}{c +}{hline 22}
ElectionPe~d {c |} {res}    10.57    0.094651
{txt}US10YrYiel~g {c |} {res}     6.75    0.148253
{txt}{space 10}c. {c |}
ElectionPe~d#{c |}
{space 10}c. {c |}
US10YrYiel~g {c |} {res}    10.65    0.093865
{txt}ElectionYear {c |} {res}     1.73    0.579596
{txt}deltaReser~s {c |}
{space 9}L1. {c |} {res}     1.62    0.615566
{txt}{space 3}GDPgrowth {c |}
{space 9}L1. {c |} {res}     1.86    0.536504
{txt}CurrAcctBa~P {c |}
{space 9}L1. {c |} {res}     1.78    0.563177
{txt}ExtDebtSto~I {c |}
{space 9}L1. {c |} {res}     2.33    0.428284
{txt}DebtServic~P {c |}
{space 9}L1. {c |} {res}     2.07    0.483823
{txt}Inflation_~r {c |}
{space 9}L1. {c |} {res}     1.80    0.556165
{txt}PegBandMan~n {c |}
{space 9}L1. {c |} {res}     3.15    0.317085
{txt}{space 5}LeftGov {c |}
{space 9}L1. {c |} {res}     2.01    0.496419
{txt}{space 8}year {c |}
{space 7}2002  {c |} {res}     1.78    0.562778
{txt}{space 7}2003  {c |} {res}     1.63    0.613955
{txt}{space 7}2004  {c |} {res}     1.73    0.579078
{txt}{space 7}2005  {c |} {res}     1.80    0.556646
{txt}{space 7}2006  {c |} {res}     1.96    0.509259
{txt}{space 7}2007  {c |} {res}     2.00    0.500334
{txt}{space 7}2008  {c |} {res}     1.83    0.547576
{txt}{space 7}2009  {c |} {res}     1.91    0.522222
{txt}{space 7}2010  {c |} {res}     1.68    0.596341
{txt}{space 7}2011  {c |} {res}     2.02    0.494742
{txt}{space 7}2012  {c |} {res}     2.69    0.372197
{txt}{space 7}2013  {c |} {res}     2.19    0.457076
{txt}{space 7}2014  {c |} {res}     2.13    0.469902
{txt}{space 7}2015  {c |} {res}     2.27    0.440721
{txt}{space 7}2016  {c |} {res}     2.31    0.433446
{txt}{space 7}2017  {c |} {res}     1.99    0.503766
{txt}{space 7}2018  {c |} {res}     1.80    0.556311
{txt}{space 7}2019  {c |} {res}     2.25    0.443916
{txt}{space 7}2020  {c |} {res}     3.02    0.331050
{txt}{space 1}country_num {c |}
{space 10}7  {c |} {res}     2.27    0.439875
{txt}{space 10}8  {c |} {res}     1.24    0.807001
{txt}{space 9}18  {c |} {res}     1.36    0.735274
{txt}{space 9}19  {c |} {res}     2.12    0.472096
{txt}{space 9}22  {c |} {res}     2.03    0.491581
{txt}{space 9}26  {c |} {res}     1.96    0.510759
{txt}{space 9}27  {c |} {res}     2.43    0.412223
{txt}{space 9}31  {c |} {res}     2.27    0.440653
{txt}{space 9}55  {c |} {res}     2.09    0.477928
{txt}{space 9}57  {c |} {res}     2.09    0.477339
{txt}{space 9}70  {c |} {res}     1.92    0.521537
{txt}{space 9}71  {c |} {res}     2.36    0.424507
{txt}{space 9}74  {c |} {res}     1.24    0.804849
{txt}{space 9}80  {c |} {res}     2.07    0.483562
{txt}{space 9}84  {c |} {res}     1.60    0.626764
{txt}{space 9}86  {c |} {res}     1.31    0.764210
{txt}{space 9}88  {c |} {res}     2.34    0.427301
{txt}{space 9}90  {c |} {res}     1.98    0.504478
{txt}{space 9}97  {c |} {res}     2.26    0.442115
{txt}{space 8}101  {c |} {res}     1.81    0.551013
{txt}{space 8}102  {c |} {res}     1.56    0.642642
{txt}{space 8}109  {c |} {res}     2.23    0.447882
{txt}{space 8}110  {c |} {res}     1.88    0.530931
{txt}{space 8}114  {c |} {res}     1.57    0.636960
{txt}{space 8}115  {c |} {res}     1.89    0.528099
{txt}{space 8}123  {c |} {res}     2.05    0.487018
{txt}{space 8}124  {c |} {res}     2.08    0.479658
{txt}{space 8}128  {c |} {res}     2.01    0.497054
{txt}{space 8}133  {c |} {res}     2.36    0.424159
{txt}{space 8}135  {c |} {res}     1.71    0.583609
{txt}{space 8}136  {c |} {res}     1.14    0.875839
{txt}{space 8}137  {c |} {res}     2.10    0.476110
{txt}{space 8}138  {c |} {res}     2.32    0.430517
{txt}{space 8}143  {c |} {res}     1.66    0.600927
{txt}{space 8}144  {c |} {res}     1.60    0.624774
{txt}{space 8}147  {c |} {res}     1.58    0.631333
{txt}{space 8}151  {c |} {res}     1.43    0.700521
{txt}{space 8}152  {c |} {res}     2.28    0.439030
{txt}{space 8}153  {c |} {res}     2.02    0.494860
{txt}{space 8}154  {c |} {res}     2.36    0.424305
{txt}{space 8}156  {c |} {res}     2.19    0.456421
{txt}{space 8}161  {c |} {res}     2.51    0.398445
{txt}{space 8}165  {c |} {res}     2.10    0.476423
{txt}{space 8}173  {c |} {res}     1.93    0.518897
{txt}{space 8}174  {c |} {res}     2.01    0.498494
{txt}{space 8}191  {c |} {res}     1.58    0.632993
{txt}{space 8}194  {c |} {res}     1.69    0.590998
{txt}{space 8}197  {c |} {res}     1.51    0.660787
{txt}{space 8}200  {c |} {res}     1.79    0.558342
{txt}{space 8}202  {c |} {res}     1.81    0.551142
{txt}{space 8}207  {c |} {res}     1.72    0.580553
{txt}{space 8}215  {c |} {res}     2.43    0.411953
{txt}{space 8}216  {c |} {res}     2.11    0.473469
{txt}{hline 13}{c +}{hline 22}
    Mean VIF {c |} {res}     2.23
{txt}
{com}. 
. gen postcrisis =0
{txt}
{com}. replace postcrisis = 1 if year >=2012
{txt}(812 real changes made)

{com}. 
. gen precrisis =0
{txt}
{com}. replace precrisis = 1 if year <2007
{txt}(392 real changes made)

{com}. 
. 
. regress deltaReserves_Imports c.ElectionPeriod##c.US10YrYields_AnnAvg ElectionYear l.deltaReserves_Imports l.GDPgrowth l.CurrAcctBal_PerGDP l.ExtDebtStocks_PerGNI l.DebtService_PerGDP l.Inflation_annGDPdeflator l.PegBandManaged_NoUnion l.Left  precrisis postcrisis  i.country_num, robust

{txt}Linear regression                               Number of obs     = {res}       847
                                                {txt}F(67, 779)        =  {res}     1.24
                                                {txt}Prob > F          = {res}    0.0979
                                                {txt}R-squared         = {res}    0.1030
                                                {txt}Root MSE          =    {res} 1.3344

{txt}{hline 39}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 40}{c |}{col 52}    Robust
{col 1}                 deltaReserves_Imports{col 40}{c |}      Coef.{col 52}   Std. Err.{col 64}      t{col 72}   P>|t|{col 80}     [95% Con{col 93}f. Interval]
{hline 39}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 24}ElectionPeriod {c |}{col 40}{res}{space 2} .6269744{col 52}{space 2} .3122424{col 63}{space 1}    2.01{col 72}{space 3}0.045{col 80}{space 4} .0140382{col 93}{space 3} 1.239911
{txt}{space 19}US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.2747225{col 52}{space 2} .1172928{col 63}{space 1}   -2.34{col 72}{space 3}0.019{col 80}{space 4}-.5049698{col 93}{space 3}-.0444751
{txt}{space 38} {c |}
c.ElectionPeriod#c.US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.2375404{col 52}{space 2} .0907985{col 63}{space 1}   -2.62{col 72}{space 3}0.009{col 80}{space 4}-.4157792{col 93}{space 3}-.0593016
{txt}{space 38} {c |}
{space 26}ElectionYear {c |}{col 40}{res}{space 2}  .035062{col 52}{space 2} .1377784{col 63}{space 1}    0.25{col 72}{space 3}0.799{col 80}{space 4}-.2353989{col 93}{space 3} .3055229
{txt}{space 38} {c |}
{space 17}deltaReserves_Imports {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.1860312{col 52}{space 2} .0626914{col 63}{space 1}   -2.97{col 72}{space 3}0.003{col 80}{space 4}-.3090953{col 93}{space 3}-.0629671
{txt}{space 38} {c |}
{space 29}GDPgrowth {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0218811{col 52}{space 2} .0166806{col 63}{space 1}    1.31{col 72}{space 3}0.190{col 80}{space 4}-.0108632{col 93}{space 3} .0546255
{txt}{space 38} {c |}
{space 20}CurrAcctBal_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0078354{col 52}{space 2} .0076592{col 63}{space 1}   -1.02{col 72}{space 3}0.307{col 80}{space 4}-.0228706{col 93}{space 3} .0071998
{txt}{space 38} {c |}
{space 18}ExtDebtStocks_PerGNI {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0007067{col 52}{space 2} .0013574{col 63}{space 1}   -0.52{col 72}{space 3}0.603{col 80}{space 4}-.0033713{col 93}{space 3} .0019578
{txt}{space 38} {c |}
{space 20}DebtService_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} 1.411251{col 52}{space 2} 2.135126{col 63}{space 1}    0.66{col 72}{space 3}0.509{col 80}{space 4}-2.780031{col 93}{space 3} 5.602534
{txt}{space 38} {c |}
{space 14}Inflation_annGDPdeflator {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0041399{col 52}{space 2} .0095641{col 63}{space 1}    0.43{col 72}{space 3}0.665{col 80}{space 4}-.0146346{col 93}{space 3} .0229145
{txt}{space 38} {c |}
{space 16}PegBandManaged_NoUnion {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .1929479{col 52}{space 2} .1647784{col 63}{space 1}    1.17{col 72}{space 3}0.242{col 80}{space 4}-.1305144{col 93}{space 3} .5164103
{txt}{space 38} {c |}
{space 31}LeftGov {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0914235{col 52}{space 2} .1254811{col 63}{space 1}   -0.73{col 72}{space 3}0.466{col 80}{space 4}-.3377446{col 93}{space 3} .1548976
{txt}{space 38} {c |}
{space 29}precrisis {c |}{col 40}{res}{space 2} .4162003{col 52}{space 2} .1834129{col 63}{space 1}    2.27{col 72}{space 3}0.024{col 80}{space 4} .0561582{col 93}{space 3} .7762423
{txt}{space 28}postcrisis {c |}{col 40}{res}{space 2}-.4387957{col 52}{space 2}  .193401{col 63}{space 1}   -2.27{col 72}{space 3}0.024{col 80}{space 4}-.8184447{col 93}{space 3}-.0591468
{txt}{space 38} {c |}
{space 27}country_num {c |}
{space 34}ARG  {c |}{col 40}{res}{space 2}-.1219815{col 52}{space 2} .4256958{col 63}{space 1}   -0.29{col 72}{space 3}0.775{col 80}{space 4}-.9576283{col 93}{space 3} .7136653
{txt}{space 34}ARM  {c |}{col 40}{res}{space 2} .2523746{col 52}{space 2} .3343662{col 63}{space 1}    0.75{col 72}{space 3}0.451{col 80}{space 4}-.4039909{col 93}{space 3}   .90874
{txt}{space 34}BGD  {c |}{col 40}{res}{space 2}  .089062{col 52}{space 2} .2817312{col 63}{space 1}    0.32{col 72}{space 3}0.752{col 80}{space 4}-.4639802{col 93}{space 3} .6421042
{txt}{space 34}BGR  {c |}{col 40}{res}{space 2} .1047653{col 52}{space 2} .3372666{col 63}{space 1}    0.31{col 72}{space 3}0.756{col 80}{space 4}-.5572938{col 93}{space 3} .7668244
{txt}{space 34}BIH  {c |}{col 40}{res}{space 2}  .308391{col 52}{space 2} .3067499{col 63}{space 1}    1.01{col 72}{space 3}0.315{col 80}{space 4}-.2937633{col 93}{space 3} .9105454
{txt}{space 34}BOL  {c |}{col 40}{res}{space 2} .0197525{col 52}{space 2} .4883807{col 63}{space 1}    0.04{col 72}{space 3}0.968{col 80}{space 4}-.9389456{col 93}{space 3} .9784506
{txt}{space 34}BRA  {c |}{col 40}{res}{space 2} .2515696{col 52}{space 2} .5475216{col 63}{space 1}    0.46{col 72}{space 3}0.646{col 80}{space 4} -.823223{col 93}{space 3} 1.326362
{txt}{space 34}BWA  {c |}{col 40}{res}{space 2} -1.15629{col 52}{space 2} .6288779{col 63}{space 1}   -1.84{col 72}{space 3}0.066{col 80}{space 4}-2.390786{col 93}{space 3} .0782066
{txt}{space 34}DOM  {c |}{col 40}{res}{space 2} .0364298{col 52}{space 2} .2533376{col 63}{space 1}    0.14{col 72}{space 3}0.886{col 80}{space 4}-.4608755{col 93}{space 3} .5337351
{txt}{space 34}ECU  {c |}{col 40}{res}{space 2} .0142981{col 52}{space 2} .2694617{col 63}{space 1}    0.05{col 72}{space 3}0.958{col 80}{space 4} -.514659{col 93}{space 3} .5432551
{txt}{space 34}GEO  {c |}{col 40}{res}{space 2} -.022555{col 52}{space 2} .2704375{col 63}{space 1}   -0.08{col 72}{space 3}0.934{col 80}{space 4}-.5534277{col 93}{space 3} .5083176
{txt}{space 34}GHA  {c |}{col 40}{res}{space 2}-.1962651{col 52}{space 2}  .344852{col 63}{space 1}   -0.57{col 72}{space 3}0.569{col 80}{space 4}-.8732144{col 93}{space 3} .4806843
{txt}{space 34}GMB  {c |}{col 40}{res}{space 2} 1.531504{col 52}{space 2} .7576825{col 63}{space 1}    2.02{col 72}{space 3}0.044{col 80}{space 4} .0441628{col 93}{space 3} 3.018845
{txt}{space 34}GTM  {c |}{col 40}{res}{space 2}  .240266{col 52}{space 2}  .280829{col 63}{space 1}    0.86{col 72}{space 3}0.393{col 80}{space 4}-.3110052{col 93}{space 3} .7915373
{txt}{space 34}HND  {c |}{col 40}{res}{space 2}-.1556745{col 52}{space 2} .2655932{col 63}{space 1}   -0.59{col 72}{space 3}0.558{col 80}{space 4}-.6770377{col 93}{space 3} .3656886
{txt}{space 34}HTI  {c |}{col 40}{res}{space 2} .2989737{col 52}{space 2} .5440134{col 63}{space 1}    0.55{col 72}{space 3}0.583{col 80}{space 4}-.7689322{col 93}{space 3}  1.36688
{txt}{space 34}IDN  {c |}{col 40}{res}{space 2}-.1721614{col 52}{space 2} .3508149{col 63}{space 1}   -0.49{col 72}{space 3}0.624{col 80}{space 4} -.860816{col 93}{space 3} .5164931
{txt}{space 34}IND  {c |}{col 40}{res}{space 2}-.0144641{col 52}{space 2} .4752851{col 63}{space 1}   -0.03{col 72}{space 3}0.976{col 80}{space 4}-.9474554{col 93}{space 3} .9185272
{txt}{space 34}JAM  {c |}{col 40}{res}{space 2} .1957597{col 52}{space 2} .3242807{col 63}{space 1}    0.60{col 72}{space 3}0.546{col 80}{space 4}-.4408078{col 93}{space 3} .8323272
{txt}{space 34}KEN  {c |}{col 40}{res}{space 2}-.0708741{col 52}{space 2} .2751639{col 63}{space 1}   -0.26{col 72}{space 3}0.797{col 80}{space 4}-.6110246{col 93}{space 3} .4692764
{txt}{space 34}KGZ  {c |}{col 40}{res}{space 2}-.2025493{col 52}{space 2} .2854109{col 63}{space 1}   -0.71{col 72}{space 3}0.478{col 80}{space 4}-.7628149{col 93}{space 3} .3577162
{txt}{space 34}LBN  {c |}{col 40}{res}{space 2} .7063668{col 52}{space 2} .9041871{col 63}{space 1}    0.78{col 72}{space 3}0.435{col 80}{space 4}-1.068565{col 93}{space 3} 2.481299
{txt}{space 34}LBR  {c |}{col 40}{res}{space 2} .0341085{col 52}{space 2}  .347993{col 63}{space 1}    0.10{col 72}{space 3}0.922{col 80}{space 4}-.6490067{col 93}{space 3} .7172237
{txt}{space 34}LKA  {c |}{col 40}{res}{space 2}-.1593872{col 52}{space 2} .3042639{col 63}{space 1}   -0.52{col 72}{space 3}0.601{col 80}{space 4}-.7566614{col 93}{space 3}  .437887
{txt}{space 34}LSO  {c |}{col 40}{res}{space 2}-.0320761{col 52}{space 2} .4421672{col 63}{space 1}   -0.07{col 72}{space 3}0.942{col 80}{space 4}-.9000564{col 93}{space 3} .8359043
{txt}{space 34}MDA  {c |}{col 40}{res}{space 2}  .011655{col 52}{space 2} .2695603{col 63}{space 1}    0.04{col 72}{space 3}0.966{col 80}{space 4}-.5174956{col 93}{space 3} .5408056
{txt}{space 34}MDG  {c |}{col 40}{res}{space 2} .0026431{col 52}{space 2}  .333577{col 63}{space 1}    0.01{col 72}{space 3}0.994{col 80}{space 4}-.6521733{col 93}{space 3} .6574594
{txt}{space 34}MKD  {c |}{col 40}{res}{space 2} .0825027{col 52}{space 2} .3020536{col 63}{space 1}    0.27{col 72}{space 3}0.785{col 80}{space 4}-.5104327{col 93}{space 3} .6754381
{txt}{space 34}MNG  {c |}{col 40}{res}{space 2}-.1284425{col 52}{space 2} .4431958{col 63}{space 1}   -0.29{col 72}{space 3}0.772{col 80}{space 4} -.998442{col 93}{space 3}  .741557
{txt}{space 34}MOZ  {c |}{col 40}{res}{space 2}-.3291477{col 52}{space 2} .4071535{col 63}{space 1}   -0.81{col 72}{space 3}0.419{col 80}{space 4}-1.128396{col 93}{space 3} .4701003
{txt}{space 34}MRT  {c |}{col 40}{res}{space 2} .7633836{col 52}{space 2} .3920378{col 63}{space 1}    1.95{col 72}{space 3}0.052{col 80}{space 4} -.006192{col 93}{space 3} 1.532959
{txt}{space 34}MUS  {c |}{col 40}{res}{space 2} .1036129{col 52}{space 2} .3066973{col 63}{space 1}    0.34{col 72}{space 3}0.736{col 80}{space 4} -.498438{col 93}{space 3} .7056639
{txt}{space 34}MWI  {c |}{col 40}{res}{space 2}-.4527672{col 52}{space 2} .3031614{col 63}{space 1}   -1.49{col 72}{space 3}0.136{col 80}{space 4}-1.047877{col 93}{space 3} .1423428
{txt}{space 34}NGA  {c |}{col 40}{res}{space 2}-.0470386{col 52}{space 2} .5260735{col 63}{space 1}   -0.09{col 72}{space 3}0.929{col 80}{space 4}-1.079728{col 93}{space 3} .9856509
{txt}{space 34}NIC  {c |}{col 40}{res}{space 2} .0111047{col 52}{space 2} .2760917{col 63}{space 1}    0.04{col 72}{space 3}0.968{col 80}{space 4}-.5308671{col 93}{space 3} .5530764
{txt}{space 34}NPL  {c |}{col 40}{res}{space 2}-.2521667{col 52}{space 2} .9072856{col 63}{space 1}   -0.28{col 72}{space 3}0.781{col 80}{space 4}-2.033181{col 93}{space 3} 1.528848
{txt}{space 34}PAK  {c |}{col 40}{res}{space 2}-.1713994{col 52}{space 2}  .500924{col 63}{space 1}   -0.34{col 72}{space 3}0.732{col 80}{space 4} -1.15472{col 93}{space 3} .8119213
{txt}{space 34}PAN  {c |}{col 40}{res}{space 2} .0219502{col 52}{space 2} .3090635{col 63}{space 1}    0.07{col 72}{space 3}0.943{col 80}{space 4}-.5847457{col 93}{space 3}  .628646
{txt}{space 34}PER  {c |}{col 40}{res}{space 2} .2561071{col 52}{space 2} .4367603{col 63}{space 1}    0.59{col 72}{space 3}0.558{col 80}{space 4}-.6012594{col 93}{space 3} 1.113474
{txt}{space 34}PHL  {c |}{col 40}{res}{space 2} .0312644{col 52}{space 2} .4056125{col 63}{space 1}    0.08{col 72}{space 3}0.939{col 80}{space 4}-.7649587{col 93}{space 3} .8274874
{txt}{space 34}PNG  {c |}{col 40}{res}{space 2} .1554243{col 52}{space 2} .3344052{col 63}{space 1}    0.46{col 72}{space 3}0.642{col 80}{space 4}-.5010178{col 93}{space 3} .8118663
{txt}{space 34}PRY  {c |}{col 40}{res}{space 2}  .073342{col 52}{space 2} .3413853{col 63}{space 1}    0.21{col 72}{space 3}0.830{col 80}{space 4}-.5968021{col 93}{space 3} .7434861
{txt}{space 34}ROU  {c |}{col 40}{res}{space 2}-.0749179{col 52}{space 2} .3181064{col 63}{space 1}   -0.24{col 72}{space 3}0.814{col 80}{space 4}-.6993652{col 93}{space 3} .5495294
{txt}{space 34}SLE  {c |}{col 40}{res}{space 2} .0603462{col 52}{space 2} .3704744{col 63}{space 1}    0.16{col 72}{space 3}0.871{col 80}{space 4}-.6669001{col 93}{space 3} .7875926
{txt}{space 34}SLV  {c |}{col 40}{res}{space 2}-.1347643{col 52}{space 2} .2606044{col 63}{space 1}   -0.52{col 72}{space 3}0.605{col 80}{space 4}-.6463343{col 93}{space 3} .3768057
{txt}{space 34}THA  {c |}{col 40}{res}{space 2}-.6834328{col 52}{space 2} .3420881{col 63}{space 1}   -2.00{col 72}{space 3}0.046{col 80}{space 4}-1.354957{col 93}{space 3}-.0119091
{txt}{space 34}TLS  {c |}{col 40}{res}{space 2}-.0434949{col 52}{space 2} .7533254{col 63}{space 1}   -0.06{col 72}{space 3}0.954{col 80}{space 4}-1.522283{col 93}{space 3} 1.435293
{txt}{space 34}TUN  {c |}{col 40}{res}{space 2} .1469523{col 52}{space 2} .4303171{col 63}{space 1}    0.34{col 72}{space 3}0.733{col 80}{space 4}-.6977661{col 93}{space 3} .9916708
{txt}{space 34}TZA  {c |}{col 40}{res}{space 2}-.2589225{col 52}{space 2} .3688648{col 63}{space 1}   -0.70{col 72}{space 3}0.483{col 80}{space 4}-.9830092{col 93}{space 3} .4651641
{txt}{space 34}UKR  {c |}{col 40}{res}{space 2}-.3454836{col 52}{space 2} .3894808{col 63}{space 1}   -0.89{col 72}{space 3}0.375{col 80}{space 4} -1.11004{col 93}{space 3} .4190725
{txt}{space 34}VEN  {c |}{col 40}{res}{space 2}-.3514283{col 52}{space 2} .9390643{col 63}{space 1}   -0.37{col 72}{space 3}0.708{col 80}{space 4}-2.194825{col 93}{space 3} 1.491968
{txt}{space 34}ZAF  {c |}{col 40}{res}{space 2}-.0018165{col 52}{space 2} .3055591{col 63}{space 1}   -0.01{col 72}{space 3}0.995{col 80}{space 4}-.6016333{col 93}{space 3} .5980004
{txt}{space 34}ZMB  {c |}{col 40}{res}{space 2}-.1262296{col 52}{space 2} .4236019{col 63}{space 1}   -0.30{col 72}{space 3}0.766{col 80}{space 4} -.957766{col 93}{space 3} .7053069
{txt}{space 38} {c |}
{space 33}_cons {c |}{col 40}{res}{space 2}  .972633{col 52}{space 2}  .484089{col 63}{space 1}    2.01{col 72}{space 3}0.045{col 80}{space 4} .0223596{col 93}{space 3} 1.922906
{txt}{hline 39}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store c3
{txt}
{com}. 
. vif

{txt}    Variable {c |}       VIF       1/VIF  
{hline 13}{c +}{hline 22}
ElectionPe~d {c |} {res}     9.81    0.101907
{txt}US10YrYiel~g {c |} {res}     5.60    0.178559
{txt}{space 10}c. {c |}
ElectionPe~d#{c |}
{space 10}c. {c |}
US10YrYiel~g {c |} {res}     9.99    0.100109
{txt}ElectionYear {c |} {res}     1.63    0.614861
{txt}deltaReser~s {c |}
{space 9}L1. {c |} {res}     1.28    0.779965
{txt}{space 3}GDPgrowth {c |}
{space 9}L1. {c |} {res}     1.49    0.669777
{txt}CurrAcctBa~P {c |}
{space 9}L1. {c |} {res}     1.73    0.578771
{txt}ExtDebtSto~I {c |}
{space 9}L1. {c |} {res}     2.30    0.435377
{txt}DebtServic~P {c |}
{space 9}L1. {c |} {res}     1.98    0.505549
{txt}Inflation_~r {c |}
{space 9}L1. {c |} {res}     1.65    0.606464
{txt}PegBandMan~n {c |}
{space 9}L1. {c |} {res}     2.99    0.334109
{txt}{space 5}LeftGov {c |}
{space 9}L1. {c |} {res}     1.96    0.509938
{txt}{space 3}precrisis {c |} {res}     2.54    0.393036
{txt}{space 2}postcrisis {c |} {res}     3.76    0.265935
{txt}{space 1}country_num {c |}
{space 10}7  {c |} {res}     2.26    0.442684
{txt}{space 10}8  {c |} {res}     1.22    0.818624
{txt}{space 9}18  {c |} {res}     1.36    0.736811
{txt}{space 9}19  {c |} {res}     2.11    0.473512
{txt}{space 9}22  {c |} {res}     2.03    0.492308
{txt}{space 9}26  {c |} {res}     1.95    0.512086
{txt}{space 9}27  {c |} {res}     2.41    0.415397
{txt}{space 9}31  {c |} {res}     2.25    0.443620
{txt}{space 9}55  {c |} {res}     2.09    0.479386
{txt}{space 9}57  {c |} {res}     2.09    0.478088
{txt}{space 9}70  {c |} {res}     1.91    0.523058
{txt}{space 9}71  {c |} {res}     2.33    0.429396
{txt}{space 9}74  {c |} {res}     1.23    0.816166
{txt}{space 9}80  {c |} {res}     2.06    0.484485
{txt}{space 9}84  {c |} {res}     1.59    0.629495
{txt}{space 9}86  {c |} {res}     1.29    0.776168
{txt}{space 9}88  {c |} {res}     2.32    0.431468
{txt}{space 9}90  {c |} {res}     1.97    0.506534
{txt}{space 9}97  {c |} {res}     2.24    0.445867
{txt}{space 8}101  {c |} {res}     1.81    0.552605
{txt}{space 8}102  {c |} {res}     1.54    0.648850
{txt}{space 8}109  {c |} {res}     2.20    0.454729
{txt}{space 8}110  {c |} {res}     1.88    0.531944
{txt}{space 8}114  {c |} {res}     1.56    0.640279
{txt}{space 8}115  {c |} {res}     1.88    0.531337
{txt}{space 8}123  {c |} {res}     2.05    0.487851
{txt}{space 8}124  {c |} {res}     2.07    0.482093
{txt}{space 8}128  {c |} {res}     2.00    0.499247
{txt}{space 8}133  {c |} {res}     2.34    0.426886
{txt}{space 8}135  {c |} {res}     1.70    0.588328
{txt}{space 8}136  {c |} {res}     1.12    0.891751
{txt}{space 8}137  {c |} {res}     2.09    0.477417
{txt}{space 8}138  {c |} {res}     2.30    0.434214
{txt}{space 8}143  {c |} {res}     1.66    0.602988
{txt}{space 8}144  {c |} {res}     1.60    0.625646
{txt}{space 8}147  {c |} {res}     1.56    0.639769
{txt}{space 8}151  {c |} {res}     1.41    0.707169
{txt}{space 8}152  {c |} {res}     2.26    0.441514
{txt}{space 8}153  {c |} {res}     2.01    0.497036
{txt}{space 8}154  {c |} {res}     2.33    0.428847
{txt}{space 8}156  {c |} {res}     2.18    0.458964
{txt}{space 8}161  {c |} {res}     2.48    0.403586
{txt}{space 8}165  {c |} {res}     2.09    0.477945
{txt}{space 8}173  {c |} {res}     1.92    0.520658
{txt}{space 8}174  {c |} {res}     2.00    0.500866
{txt}{space 8}191  {c |} {res}     1.54    0.649053
{txt}{space 8}194  {c |} {res}     1.67    0.598119
{txt}{space 8}197  {c |} {res}     1.51    0.662840
{txt}{space 8}200  {c |} {res}     1.79    0.560075
{txt}{space 8}202  {c |} {res}     1.80    0.555912
{txt}{space 8}207  {c |} {res}     1.70    0.586517
{txt}{space 8}215  {c |} {res}     2.41    0.414437
{txt}{space 8}216  {c |} {res}     2.08    0.480306
{txt}{hline 13}{c +}{hline 22}
    Mean VIF {c |} {res}     2.24
{txt}
{com}. 
. 
. estout c1 c2 c3, cells(b(star fmt(%9.3f)) se(par fmt(%9.3f))) starlevels(* 0.1 ** 0.05 ) ///
> stats(r2 N , fmt(%9.2f %9.0f) labels("R2" ))  style(tex) ///
> legend label collabels(none) ///
> varlabels(_cons Constant  "c.ElectionPeriod#c.US10YrYields_AnnAvg" "Election*USrates" "c.year#c.GlobalReserveLevels" "Year*GlobalReserves" ) ///
> order(ElectionPeriod US10YrYields_AnnAvg ElectionYear   c.ElectionPeriod#c.US10YrYields_AnnAvg  ) drop(*country_num *year) ///
> mlabels ("Model 1"  "Model 2") ///
> title("") 
{res}
                    &     Model 1  &     Model 2  &          c3  \\
ElectionPeriod      &      -0.213**&       0.431* &       0.627**\\
                    &     (0.106)  &     (0.261)  &     (0.312)  \\
US10YrYields_AnnAvg &      -0.247**&       0.396**&      -0.275**\\
                    &     (0.091)  &     (0.108)  &     (0.117)  \\
ElectionYear        &       0.155  &      -0.123  &       0.035  \\
                    &     (0.130)  &     (0.115)  &     (0.138)  \\
Election*USrates    &              &      -0.156**&      -0.238**\\
                    &              &     (0.077)  &     (0.091)  \\
L.deltaReserves_Imports&      -0.166**&      -0.112* &      -0.186**\\
                    &     (0.057)  &     (0.062)  &     (0.063)  \\
L.GDPpcap           &       0.000  &              &              \\
                    &     (0.000)  &              &              \\
L.GDPgrowth         &       0.004  &      -0.003  &       0.022  \\
                    &     (0.018)  &     (0.021)  &     (0.017)  \\
L.ny_gdp_totl_rt_zs &      -0.010  &              &              \\
                    &     (0.021)  &              &              \\
L.CurrAcctBal_PerGDP&       0.002  &      -0.011  &      -0.008  \\
                    &     (0.008)  &     (0.007)  &     (0.008)  \\
L.ExtDebtStocks_PerGNI&      -0.001  &      -0.000  &      -0.001  \\
                    &     (0.001)  &     (0.001)  &     (0.001)  \\
L.DebtService_PerGDP&      -0.926  &       1.266  &       1.411  \\
                    &     (1.208)  &     (1.950)  &     (2.135)  \\
L.Inflation_annGDPdeflator&       0.010  &      -0.005  &       0.004  \\
                    &     (0.008)  &     (0.008)  &     (0.010)  \\
L.PegBandManaged_NoUnion&       0.191  &       0.140  &       0.193  \\
                    &     (0.165)  &     (0.150)  &     (0.165)  \\
L.lvaw_garriga      &      -0.628  &              &              \\
                    &     (0.622)  &              &              \\
L.Taxes_PerGDP      &       4.765**&              &              \\
                    &     (2.318)  &              &              \\
L.BestCRtg          &       0.056* &              &              \\
                    &     (0.030)  &              &              \\
L.cyrs              &       0.013  &              &              \\
                    &     (0.013)  &              &              \\
L.dyrs              &      -0.019* &              &              \\
                    &     (0.012)  &              &              \\
L.v2x_polyarchy     &       0.514  &              &              \\
                    &     (0.943)  &              &              \\
L.LeftGov           &      -0.054  &       0.038  &      -0.091  \\
                    &     (0.120)  &     (0.111)  &     (0.125)  \\
GlobalReserveLevels &       0.000**&              &              \\
                    &     (0.000)  &              &              \\
Year*GlobalReserves &      -0.000**&              &              \\
                    &     (0.000)  &              &              \\
precrisis           &              &              &       0.416**\\
                    &              &              &     (0.183)  \\
postcrisis          &              &              &      -0.439**\\
                    &              &              &     (0.193)  \\
Constant            &    -280.022**&      -1.678**&       0.973**\\
                    &   (115.145)  &     (0.480)  &     (0.484)  \\
R2                  &        0.10  &        0.34  &        0.10  \\
N                   &         700  &         847  &         847  \\
* p<0.1, ** p<0.05
{txt}
{com}. 
. 
. 
. 
. 
. ***************************************************************************************************************************************************************************
. *Section G: Alternative DVs
. 
. regress deltaReservesPerGDP_incGold ElectionPeriod ElectionYear  US10YrYields_AnnAvg l.deltaReservesPerGDP_incGold l.GDPpcap l.GDPgrowth l.ny_gdp_totl_rt_zs l.CurrAcctBal_PerGDP l.ExtDebtStocks_PerGNI l.DebtService_PerGDP l.Inflation_annGDPdeflator l.PegBandManaged_NoUnion l.lvaw_garriga l.Taxes_PerGDP l.BestCRtg l.cyrs l.dyrs l.v2x_polyarchy l.Left i.country_num c.year##c.GlobalReserveLevels, robust

{txt}Linear regression                               Number of obs     = {res}       701
                                                {txt}{help j_robustsingular:F(69, 629) }       =  {res}        .
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.1176
                                                {txt}Root MSE          =    {res} .04083

{txt}{hline 29}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 30}{c |}{col 42}    Robust
{col 1} deltaReservesPerGDP_incGold{col 30}{c |}      Coef.{col 42}   Std. Err.{col 54}      t{col 62}   P>|t|{col 70}     [95% Con{col 83}f. Interval]
{hline 29}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 14}ElectionPeriod {c |}{col 30}{res}{space 2} -.001845{col 42}{space 2} .0036715{col 53}{space 1}   -0.50{col 62}{space 3}0.615{col 70}{space 4}-.0090548{col 83}{space 3} .0053649
{txt}{space 16}ElectionYear {c |}{col 30}{res}{space 2} .0043106{col 42}{space 2} .0047036{col 53}{space 1}    0.92{col 62}{space 3}0.360{col 70}{space 4} -.004926{col 83}{space 3} .0135473
{txt}{space 9}US10YrYields_AnnAvg {c |}{col 30}{res}{space 2} -.004254{col 42}{space 2} .0035877{col 53}{space 1}   -1.19{col 62}{space 3}0.236{col 70}{space 4}-.0112994{col 83}{space 3} .0027914
{txt}{space 28} {c |}
{space 1}deltaReservesPerGDP_incGold {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.1393502{col 42}{space 2} .0939133{col 53}{space 1}   -1.48{col 62}{space 3}0.138{col 70}{space 4}-.3237718{col 83}{space 3} .0450713
{txt}{space 28} {c |}
{space 21}GDPpcap {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} 1.68e-06{col 42}{space 2} 2.12e-06{col 53}{space 1}    0.79{col 62}{space 3}0.429{col 70}{space 4}-2.48e-06{col 83}{space 3} 5.83e-06
{txt}{space 28} {c |}
{space 19}GDPgrowth {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0009791{col 42}{space 2} .0007678{col 53}{space 1}    1.28{col 62}{space 3}0.203{col 70}{space 4}-.0005286{col 83}{space 3} .0024869
{txt}{space 28} {c |}
{space 11}ny_gdp_totl_rt_zs {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0010704{col 42}{space 2} .0012104{col 53}{space 1}   -0.88{col 62}{space 3}0.377{col 70}{space 4}-.0034473{col 83}{space 3} .0013065
{txt}{space 28} {c |}
{space 10}CurrAcctBal_PerGDP {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0012414{col 42}{space 2} .0005158{col 53}{space 1}    2.41{col 62}{space 3}0.016{col 70}{space 4} .0002285{col 83}{space 3} .0022544
{txt}{space 28} {c |}
{space 8}ExtDebtStocks_PerGNI {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-7.69e-06{col 42}{space 2} .0000547{col 53}{space 1}   -0.14{col 62}{space 3}0.888{col 70}{space 4}-.0001152{col 83}{space 3} .0000998
{txt}{space 28} {c |}
{space 10}DebtService_PerGDP {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0282383{col 42}{space 2} .0622833{col 53}{space 1}   -0.45{col 62}{space 3}0.650{col 70}{space 4}-.1505466{col 83}{space 3} .0940701
{txt}{space 28} {c |}
{space 4}Inflation_annGDPdeflator {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0004468{col 42}{space 2} .0002704{col 53}{space 1}    1.65{col 62}{space 3}0.099{col 70}{space 4}-.0000841{col 83}{space 3} .0009777
{txt}{space 28} {c |}
{space 6}PegBandManaged_NoUnion {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0046708{col 42}{space 2} .0048892{col 53}{space 1}    0.96{col 62}{space 3}0.340{col 70}{space 4}-.0049304{col 83}{space 3}  .014272
{txt}{space 28} {c |}
{space 16}lvaw_garriga {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0445905{col 42}{space 2} .0226827{col 53}{space 1}   -1.97{col 62}{space 3}0.050{col 70}{space 4}-.0891335{col 83}{space 3}-.0000474
{txt}{space 28} {c |}
{space 16}Taxes_PerGDP {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .3032204{col 42}{space 2}  .210936{col 53}{space 1}    1.44{col 62}{space 3}0.151{col 70}{space 4}-.1110035{col 83}{space 3} .7174444
{txt}{space 28} {c |}
{space 20}BestCRtg {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0017783{col 42}{space 2} .0010072{col 53}{space 1}    1.77{col 62}{space 3}0.078{col 70}{space 4}-.0001996{col 83}{space 3} .0037562
{txt}{space 28} {c |}
{space 24}cyrs {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0004148{col 42}{space 2}  .000545{col 53}{space 1}    0.76{col 62}{space 3}0.447{col 70}{space 4}-.0006555{col 83}{space 3} .0014851
{txt}{space 28} {c |}
{space 24}dyrs {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0007546{col 42}{space 2} .0004162{col 53}{space 1}   -1.81{col 62}{space 3}0.070{col 70}{space 4}-.0015718{col 83}{space 3} .0000627
{txt}{space 28} {c |}
{space 15}v2x_polyarchy {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0350091{col 42}{space 2} .0367927{col 53}{space 1}    0.95{col 62}{space 3}0.342{col 70}{space 4}-.0372422{col 83}{space 3} .1072605
{txt}{space 28} {c |}
{space 21}LeftGov {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0061439{col 42}{space 2} .0041676{col 53}{space 1}   -1.47{col 62}{space 3}0.141{col 70}{space 4}-.0143279{col 83}{space 3} .0020401
{txt}{space 28} {c |}
{space 17}country_num {c |}
{space 24}ARG  {c |}{col 30}{res}{space 2}-.0481965{col 42}{space 2} .0251295{col 53}{space 1}   -1.92{col 62}{space 3}0.056{col 70}{space 4}-.0975444{col 83}{space 3} .0011515
{txt}{space 24}ARM  {c |}{col 30}{res}{space 2} .0042919{col 42}{space 2} .0110227{col 53}{space 1}    0.39{col 62}{space 3}0.697{col 70}{space 4}-.0173538{col 83}{space 3} .0259377
{txt}{space 24}BGD  {c |}{col 30}{res}{space 2} -.008596{col 42}{space 2} .0253213{col 53}{space 1}   -0.34{col 62}{space 3}0.734{col 70}{space 4}-.0583205{col 83}{space 3} .0411285
{txt}{space 24}BGR  {c |}{col 30}{res}{space 2}-.0044935{col 42}{space 2}  .017953{col 53}{space 1}   -0.25{col 62}{space 3}0.802{col 70}{space 4}-.0397485{col 83}{space 3} .0307615
{txt}{space 24}BIH  {c |}{col 30}{res}{space 2} .0063513{col 42}{space 2} .0163351{col 53}{space 1}    0.39{col 62}{space 3}0.698{col 70}{space 4}-.0257267{col 83}{space 3} .0384292
{txt}{space 24}BRA  {c |}{col 30}{res}{space 2}-.0528775{col 42}{space 2} .0271062{col 53}{space 1}   -1.95{col 62}{space 3}0.052{col 70}{space 4}-.1061072{col 83}{space 3} .0003522
{txt}{space 24}BWA  {c |}{col 30}{res}{space 2}-.0730272{col 42}{space 2} .0335064{col 53}{space 1}   -2.18{col 62}{space 3}0.030{col 70}{space 4}-.1388251{col 83}{space 3}-.0072292
{txt}{space 24}DOM  {c |}{col 30}{res}{space 2} -.002454{col 42}{space 2} .0138456{col 53}{space 1}   -0.18{col 62}{space 3}0.859{col 70}{space 4}-.0296432{col 83}{space 3} .0247352
{txt}{space 24}ECU  {c |}{col 30}{res}{space 2}  .003059{col 42}{space 2} .0206009{col 53}{space 1}    0.15{col 62}{space 3}0.882{col 70}{space 4}-.0373959{col 83}{space 3} .0435139
{txt}{space 24}GEO  {c |}{col 30}{res}{space 2}-.0024718{col 42}{space 2} .0135899{col 53}{space 1}   -0.18{col 62}{space 3}0.856{col 70}{space 4} -.029159{col 83}{space 3} .0242153
{txt}{space 24}GHA  {c |}{col 30}{res}{space 2} .0091164{col 42}{space 2} .0305253{col 53}{space 1}    0.30{col 62}{space 3}0.765{col 70}{space 4}-.0508275{col 83}{space 3} .0690603
{txt}{space 24}GMB  {c |}{col 30}{res}{space 2} .0346409{col 42}{space 2} .0261569{col 53}{space 1}    1.32{col 62}{space 3}0.186{col 70}{space 4}-.0167246{col 83}{space 3} .0860064
{txt}{space 24}GTM  {c |}{col 30}{res}{space 2} .0272288{col 42}{space 2} .0154739{col 53}{space 1}    1.76{col 62}{space 3}0.079{col 70}{space 4}-.0031579{col 83}{space 3} .0576155
{txt}{space 24}HND  {c |}{col 30}{res}{space 2}-.0172815{col 42}{space 2} .0115755{col 53}{space 1}   -1.49{col 62}{space 3}0.136{col 70}{space 4}-.0400128{col 83}{space 3} .0054499
{txt}{space 24}HTI  {c |}{col 30}{res}{space 2} .0195497{col 42}{space 2} .0301264{col 53}{space 1}    0.65{col 62}{space 3}0.517{col 70}{space 4}-.0396108{col 83}{space 3} .0787103
{txt}{space 24}IDN  {c |}{col 30}{res}{space 2} .0056564{col 42}{space 2} .0175012{col 53}{space 1}    0.32{col 62}{space 3}0.747{col 70}{space 4}-.0287116{col 83}{space 3} .0400243
{txt}{space 24}IND  {c |}{col 30}{res}{space 2}-.0105643{col 42}{space 2}  .019948{col 53}{space 1}   -0.53{col 62}{space 3}0.597{col 70}{space 4} -.049737{col 83}{space 3} .0286084
{txt}{space 24}JAM  {c |}{col 30}{res}{space 2}-.0319429{col 42}{space 2} .0209702{col 53}{space 1}   -1.52{col 62}{space 3}0.128{col 70}{space 4} -.073123{col 83}{space 3} .0092372
{txt}{space 24}KEN  {c |}{col 30}{res}{space 2}-.0042096{col 42}{space 2} .0138715{col 53}{space 1}   -0.30{col 62}{space 3}0.762{col 70}{space 4}-.0314496{col 83}{space 3} .0230304
{txt}{space 24}KGZ  {c |}{col 30}{res}{space 2}-.0115607{col 42}{space 2} .0153384{col 53}{space 1}   -0.75{col 62}{space 3}0.451{col 70}{space 4}-.0416813{col 83}{space 3} .0185599
{txt}{space 24}LBN  {c |}{col 30}{res}{space 2} .0225706{col 42}{space 2} .0303004{col 53}{space 1}    0.74{col 62}{space 3}0.457{col 70}{space 4}-.0369316{col 83}{space 3} .0820728
{txt}{space 24}LBR  {c |}{col 30}{res}{space 2} .0456298{col 42}{space 2} .0392332{col 53}{space 1}    1.16{col 62}{space 3}0.245{col 70}{space 4}-.0314142{col 83}{space 3} .1226737
{txt}{space 24}LKA  {c |}{col 30}{res}{space 2}-.0058785{col 42}{space 2}  .016694{col 53}{space 1}   -0.35{col 62}{space 3}0.725{col 70}{space 4}-.0386613{col 83}{space 3} .0269043
{txt}{space 24}LSO  {c |}{col 30}{res}{space 2}-.0901521{col 42}{space 2} .0486218{col 53}{space 1}   -1.85{col 62}{space 3}0.064{col 70}{space 4}-.1856328{col 83}{space 3} .0053285
{txt}{space 24}MDA  {c |}{col 30}{res}{space 2}-.0123455{col 42}{space 2} .0119035{col 53}{space 1}   -1.04{col 62}{space 3}0.300{col 70}{space 4}-.0357209{col 83}{space 3} .0110298
{txt}{space 24}MDG  {c |}{col 30}{res}{space 2} .0261449{col 42}{space 2} .0224407{col 53}{space 1}    1.17{col 62}{space 3}0.244{col 70}{space 4}-.0179229{col 83}{space 3} .0702127
{txt}{space 24}MNG  {c |}{col 30}{res}{space 2}-.0028449{col 42}{space 2} .0260416{col 53}{space 1}   -0.11{col 62}{space 3}0.913{col 70}{space 4} -.053984{col 83}{space 3} .0482941
{txt}{space 24}MOZ  {c |}{col 30}{res}{space 2} .0196052{col 42}{space 2} .0260906{col 53}{space 1}    0.75{col 62}{space 3}0.453{col 70}{space 4}-.0316301{col 83}{space 3} .0708404
{txt}{space 24}MRT  {c |}{col 30}{res}{space 2} .0562954{col 42}{space 2} .0328035{col 53}{space 1}    1.72{col 62}{space 3}0.087{col 70}{space 4}-.0081224{col 83}{space 3} .1207131
{txt}{space 24}MUS  {c |}{col 30}{res}{space 2} -.004397{col 42}{space 2}  .020615{col 53}{space 1}   -0.21{col 62}{space 3}0.831{col 70}{space 4}-.0448795{col 83}{space 3} .0360854
{txt}{space 24}MWI  {c |}{col 30}{res}{space 2} .0050093{col 42}{space 2} .0276847{col 53}{space 1}    0.18{col 62}{space 3}0.856{col 70}{space 4}-.0493562{col 83}{space 3} .0593749
{txt}{space 24}NIC  {c |}{col 30}{res}{space 2} .0309557{col 42}{space 2} .0156087{col 53}{space 1}    1.98{col 62}{space 3}0.048{col 70}{space 4} .0003041{col 83}{space 3} .0616072
{txt}{space 24}NPL  {c |}{col 30}{res}{space 2}-.0154769{col 42}{space 2} .0204055{col 53}{space 1}   -0.76{col 62}{space 3}0.448{col 70}{space 4}-.0555481{col 83}{space 3} .0245943
{txt}{space 24}PAK  {c |}{col 30}{res}{space 2}-.0097525{col 42}{space 2} .0234378{col 53}{space 1}   -0.42{col 62}{space 3}0.677{col 70}{space 4}-.0557784{col 83}{space 3} .0362733
{txt}{space 24}PAN  {c |}{col 30}{res}{space 2}-.0315611{col 42}{space 2} .0306743{col 53}{space 1}   -1.03{col 62}{space 3}0.304{col 70}{space 4}-.0917975{col 83}{space 3} .0286753
{txt}{space 24}PER  {c |}{col 30}{res}{space 2} .0073669{col 42}{space 2} .0162176{col 53}{space 1}    0.45{col 62}{space 3}0.650{col 70}{space 4}-.0244803{col 83}{space 3}  .039214
{txt}{space 24}PHL  {c |}{col 30}{res}{space 2} .0047501{col 42}{space 2} .0150417{col 53}{space 1}    0.32{col 62}{space 3}0.752{col 70}{space 4} -.024788{col 83}{space 3} .0342883
{txt}{space 24}PNG  {c |}{col 30}{res}{space 2} .0034941{col 42}{space 2}  .028205{col 53}{space 1}    0.12{col 62}{space 3}0.901{col 70}{space 4}-.0518933{col 83}{space 3} .0588815
{txt}{space 24}PRY  {c |}{col 30}{res}{space 2} .0099477{col 42}{space 2} .0208509{col 53}{space 1}    0.48{col 62}{space 3}0.633{col 70}{space 4}-.0309981{col 83}{space 3} .0508936
{txt}{space 24}ROU  {c |}{col 30}{res}{space 2}-.0065697{col 42}{space 2} .0148541{col 53}{space 1}   -0.44{col 62}{space 3}0.658{col 70}{space 4}-.0357394{col 83}{space 3}    .0226
{txt}{space 24}SLE  {c |}{col 30}{res}{space 2} .0450553{col 42}{space 2} .0292146{col 53}{space 1}    1.54{col 62}{space 3}0.124{col 70}{space 4}-.0123147{col 83}{space 3} .1024253
{txt}{space 24}SLV  {c |}{col 30}{res}{space 2} .0062637{col 42}{space 2} .0102619{col 53}{space 1}    0.61{col 62}{space 3}0.542{col 70}{space 4} -.013888{col 83}{space 3} .0264155
{txt}{space 24}THA  {c |}{col 30}{res}{space 2}-.0417821{col 42}{space 2} .0209204{col 53}{space 1}   -2.00{col 62}{space 3}0.046{col 70}{space 4}-.0828644{col 83}{space 3}-.0006999
{txt}{space 24}TLS  {c |}{col 30}{res}{space 2}  .140777{col 42}{space 2} .1314618{col 53}{space 1}    1.07{col 62}{space 3}0.285{col 70}{space 4}-.1173801{col 83}{space 3} .3989341
{txt}{space 24}TUN  {c |}{col 30}{res}{space 2}-.0264382{col 42}{space 2} .0258796{col 53}{space 1}   -1.02{col 62}{space 3}0.307{col 70}{space 4}-.0772591{col 83}{space 3} .0243828
{txt}{space 24}TZA  {c |}{col 30}{res}{space 2} .0175104{col 42}{space 2} .0232518{col 53}{space 1}    0.75{col 62}{space 3}0.452{col 70}{space 4}-.0281502{col 83}{space 3}  .063171
{txt}{space 24}UKR  {c |}{col 30}{res}{space 2}-.0264393{col 42}{space 2} .0202538{col 53}{space 1}   -1.31{col 62}{space 3}0.192{col 70}{space 4}-.0662125{col 83}{space 3} .0133339
{txt}{space 24}ZAF  {c |}{col 30}{res}{space 2}-.0332621{col 42}{space 2} .0244402{col 53}{space 1}   -1.36{col 62}{space 3}0.174{col 70}{space 4}-.0812564{col 83}{space 3} .0147322
{txt}{space 24}ZMB  {c |}{col 30}{res}{space 2} .0009936{col 42}{space 2} .0238187{col 53}{space 1}    0.04{col 62}{space 3}0.967{col 70}{space 4}-.0457802{col 83}{space 3} .0477675
{txt}{space 28} {c |}
{space 24}year {c |}{col 30}{res}{space 2} .0026685{col 42}{space 2} .0021393{col 53}{space 1}    1.25{col 62}{space 3}0.213{col 70}{space 4}-.0015324{col 83}{space 3} .0068695
{txt}{space 9}GlobalReserveLevels {c |}{col 30}{res}{space 2} 4.66e-13{col 42}{space 2} 3.05e-13{col 53}{space 1}    1.53{col 62}{space 3}0.127{col 70}{space 4}-1.33e-13{col 83}{space 3} 1.07e-12
{txt}{space 28} {c |}
c.year#c.GlobalReserveLevels {c |}{col 30}{res}{space 2}-2.34e-16{col 42}{space 2} 1.52e-16{col 53}{space 1}   -1.54{col 62}{space 3}0.125{col 70}{space 4}-5.33e-16{col 83}{space 3} 6.49e-17
{txt}{space 28} {c |}
{space 23}_cons {c |}{col 30}{res}{space 2}-5.373612{col 42}{space 2}  4.26902{col 53}{space 1}   -1.26{col 62}{space 3}0.209{col 70}{space 4}-13.75687{col 83}{space 3} 3.009645
{txt}{hline 29}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store a1
{txt}
{com}. 
. regress deltaReservesPerGDP_incGold c.ElectionPeriod##c.US10YrYields_AnnAvg ElectionYear l.deltaReservesPerGDP_incGold  l.GDPpcap l.GDPgrowth l.ny_gdp_totl_rt_zs l.CurrAcctBal_PerGDP l.ExtDebtStocks_PerGNI l.DebtService_PerGDP l.Inflation_annGDPdeflator l.PegBandManaged_NoUnion l.lvaw_garriga l.Taxes_PerGDP l.BestCRtg l.cyrs l.dyrs l.v2x_polyarchy l.Left i.country_num c.year##c.GlobalReserveLevels, robust

{txt}Linear regression                               Number of obs     = {res}       701
                                                {txt}{help j_robustsingular:F(70, 628) }       =  {res}        .
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.1227
                                                {txt}Root MSE          =    {res} .04074

{txt}{hline 39}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 40}{c |}{col 52}    Robust
{col 1}           deltaReservesPerGDP_incGold{col 40}{c |}      Coef.{col 52}   Std. Err.{col 64}      t{col 72}   P>|t|{col 80}     [95% Con{col 93}f. Interval]
{hline 39}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 24}ElectionPeriod {c |}{col 40}{res}{space 2} .0174721{col 52}{space 2} .0093565{col 63}{space 1}    1.87{col 72}{space 3}0.062{col 80}{space 4}-.0009017{col 93}{space 3}  .035846
{txt}{space 19}US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.0024619{col 52}{space 2}  .003554{col 63}{space 1}   -0.69{col 72}{space 3}0.489{col 80}{space 4} -.009441{col 93}{space 3} .0045172
{txt}{space 38} {c |}
c.ElectionPeriod#c.US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.0059828{col 52}{space 2} .0027862{col 63}{space 1}   -2.15{col 72}{space 3}0.032{col 80}{space 4}-.0114543{col 93}{space 3}-.0005114
{txt}{space 38} {c |}
{space 26}ElectionYear {c |}{col 40}{res}{space 2}  .004563{col 52}{space 2} .0046913{col 63}{space 1}    0.97{col 72}{space 3}0.331{col 80}{space 4}-.0046495{col 93}{space 3} .0137755
{txt}{space 38} {c |}
{space 11}deltaReservesPerGDP_incGold {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.1421724{col 52}{space 2} .0937862{col 63}{space 1}   -1.52{col 72}{space 3}0.130{col 80}{space 4} -.326345{col 93}{space 3} .0420002
{txt}{space 38} {c |}
{space 31}GDPpcap {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} 1.70e-06{col 52}{space 2} 2.10e-06{col 63}{space 1}    0.81{col 72}{space 3}0.420{col 80}{space 4}-2.43e-06{col 93}{space 3} 5.83e-06
{txt}{space 38} {c |}
{space 29}GDPgrowth {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0010219{col 52}{space 2} .0007666{col 63}{space 1}    1.33{col 72}{space 3}0.183{col 80}{space 4}-.0004835{col 93}{space 3} .0025273
{txt}{space 38} {c |}
{space 21}ny_gdp_totl_rt_zs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} -.001118{col 52}{space 2} .0011997{col 63}{space 1}   -0.93{col 72}{space 3}0.352{col 80}{space 4} -.003474{col 93}{space 3} .0012379
{txt}{space 38} {c |}
{space 20}CurrAcctBal_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0012598{col 52}{space 2} .0005137{col 63}{space 1}    2.45{col 72}{space 3}0.014{col 80}{space 4} .0002511{col 93}{space 3} .0022685
{txt}{space 38} {c |}
{space 18}ExtDebtStocks_PerGNI {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-9.36e-06{col 52}{space 2} .0000543{col 63}{space 1}   -0.17{col 72}{space 3}0.863{col 80}{space 4}-.0001159{col 93}{space 3} .0000972
{txt}{space 38} {c |}
{space 20}DebtService_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} -.028549{col 52}{space 2} .0616146{col 63}{space 1}   -0.46{col 72}{space 3}0.643{col 80}{space 4}-.1495446{col 93}{space 3} .0924466
{txt}{space 38} {c |}
{space 14}Inflation_annGDPdeflator {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0004784{col 52}{space 2} .0002702{col 63}{space 1}    1.77{col 72}{space 3}0.077{col 80}{space 4}-.0000522{col 93}{space 3}  .001009
{txt}{space 38} {c |}
{space 16}PegBandManaged_NoUnion {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0043883{col 52}{space 2} .0048985{col 63}{space 1}    0.90{col 72}{space 3}0.371{col 80}{space 4}-.0052312{col 93}{space 3} .0140078
{txt}{space 38} {c |}
{space 26}lvaw_garriga {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0382037{col 52}{space 2} .0223346{col 63}{space 1}   -1.71{col 72}{space 3}0.088{col 80}{space 4}-.0820633{col 93}{space 3} .0056559
{txt}{space 38} {c |}
{space 26}Taxes_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .3064272{col 52}{space 2} .2112218{col 63}{space 1}    1.45{col 72}{space 3}0.147{col 80}{space 4}-.1083593{col 93}{space 3} .7212138
{txt}{space 38} {c |}
{space 30}BestCRtg {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0017982{col 52}{space 2} .0010185{col 63}{space 1}    1.77{col 72}{space 3}0.078{col 80}{space 4}-.0002019{col 93}{space 3} .0037982
{txt}{space 38} {c |}
{space 34}cyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0004227{col 52}{space 2} .0005559{col 63}{space 1}    0.76{col 72}{space 3}0.447{col 80}{space 4} -.000669{col 93}{space 3} .0015144
{txt}{space 38} {c |}
{space 34}dyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0007689{col 52}{space 2} .0004147{col 63}{space 1}   -1.85{col 72}{space 3}0.064{col 80}{space 4}-.0015832{col 93}{space 3} .0000455
{txt}{space 38} {c |}
{space 25}v2x_polyarchy {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0380225{col 52}{space 2}  .036793{col 63}{space 1}    1.03{col 72}{space 3}0.302{col 80}{space 4}-.0342297{col 93}{space 3} .1102747
{txt}{space 38} {c |}
{space 31}LeftGov {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0063815{col 52}{space 2} .0041855{col 63}{space 1}   -1.52{col 72}{space 3}0.128{col 80}{space 4}-.0146007{col 93}{space 3} .0018378
{txt}{space 38} {c |}
{space 27}country_num {c |}
{space 34}ARG  {c |}{col 40}{res}{space 2}-.0492683{col 52}{space 2} .0252892{col 63}{space 1}   -1.95{col 72}{space 3}0.052{col 80}{space 4}-.0989299{col 93}{space 3} .0003933
{txt}{space 34}ARM  {c |}{col 40}{res}{space 2} .0009326{col 52}{space 2}  .011113{col 63}{space 1}    0.08{col 72}{space 3}0.933{col 80}{space 4}-.0208904{col 93}{space 3} .0227557
{txt}{space 34}BGD  {c |}{col 40}{res}{space 2}-.0040862{col 52}{space 2}  .025582{col 63}{space 1}   -0.16{col 72}{space 3}0.873{col 80}{space 4}-.0543228{col 93}{space 3} .0461505
{txt}{space 34}BGR  {c |}{col 40}{res}{space 2}-.0052878{col 52}{space 2}  .017759{col 63}{space 1}   -0.30{col 72}{space 3}0.766{col 80}{space 4} -.040162{col 93}{space 3} .0295865
{txt}{space 34}BIH  {c |}{col 40}{res}{space 2}  .004708{col 52}{space 2} .0162063{col 63}{space 1}    0.29{col 72}{space 3}0.772{col 80}{space 4} -.027117{col 93}{space 3} .0365331
{txt}{space 34}BRA  {c |}{col 40}{res}{space 2}-.0494991{col 52}{space 2} .0272555{col 63}{space 1}   -1.82{col 72}{space 3}0.070{col 80}{space 4} -.103022{col 93}{space 3} .0040239
{txt}{space 34}BWA  {c |}{col 40}{res}{space 2}-.0725403{col 52}{space 2} .0334159{col 63}{space 1}   -2.17{col 72}{space 3}0.030{col 80}{space 4}-.1381606{col 93}{space 3}-.0069199
{txt}{space 34}DOM  {c |}{col 40}{res}{space 2}-.0027042{col 52}{space 2} .0137954{col 63}{space 1}   -0.20{col 72}{space 3}0.845{col 80}{space 4}-.0297949{col 93}{space 3} .0243865
{txt}{space 34}ECU  {c |}{col 40}{res}{space 2} .0044619{col 52}{space 2}  .020582{col 63}{space 1}    0.22{col 72}{space 3}0.828{col 80}{space 4}-.0359559{col 93}{space 3} .0448798
{txt}{space 34}GEO  {c |}{col 40}{res}{space 2} -.002874{col 52}{space 2} .0136503{col 63}{space 1}   -0.21{col 72}{space 3}0.833{col 80}{space 4}-.0296797{col 93}{space 3} .0239318
{txt}{space 34}GHA  {c |}{col 40}{res}{space 2} .0097208{col 52}{space 2} .0305708{col 63}{space 1}    0.32{col 72}{space 3}0.751{col 80}{space 4}-.0503127{col 93}{space 3} .0697542
{txt}{space 34}GMB  {c |}{col 40}{res}{space 2} .0384258{col 52}{space 2} .0263197{col 63}{space 1}    1.46{col 72}{space 3}0.145{col 80}{space 4}-.0132595{col 93}{space 3} .0901111
{txt}{space 34}GTM  {c |}{col 40}{res}{space 2} .0277647{col 52}{space 2}  .015457{col 63}{space 1}    1.80{col 72}{space 3}0.073{col 80}{space 4}-.0025889{col 93}{space 3} .0581184
{txt}{space 34}HND  {c |}{col 40}{res}{space 2}-.0166444{col 52}{space 2} .0119352{col 63}{space 1}   -1.39{col 72}{space 3}0.164{col 80}{space 4}-.0400821{col 93}{space 3} .0067933
{txt}{space 34}HTI  {c |}{col 40}{res}{space 2} .0229197{col 52}{space 2} .0300799{col 63}{space 1}    0.76{col 72}{space 3}0.446{col 80}{space 4}-.0361496{col 93}{space 3} .0819891
{txt}{space 34}IDN  {c |}{col 40}{res}{space 2} .0046636{col 52}{space 2} .0174557{col 63}{space 1}    0.27{col 72}{space 3}0.789{col 80}{space 4}-.0296151{col 93}{space 3} .0389423
{txt}{space 34}IND  {c |}{col 40}{res}{space 2}-.0076149{col 52}{space 2} .0199142{col 63}{space 1}   -0.38{col 72}{space 3}0.702{col 80}{space 4}-.0467214{col 93}{space 3} .0314916
{txt}{space 34}JAM  {c |}{col 40}{res}{space 2}-.0291712{col 52}{space 2} .0211098{col 63}{space 1}   -1.38{col 72}{space 3}0.168{col 80}{space 4}-.0706256{col 93}{space 3} .0122832
{txt}{space 34}KEN  {c |}{col 40}{res}{space 2}-.0022757{col 52}{space 2} .0138807{col 63}{space 1}   -0.16{col 72}{space 3}0.870{col 80}{space 4} -.029534{col 93}{space 3} .0249826
{txt}{space 34}KGZ  {c |}{col 40}{res}{space 2}-.0091566{col 52}{space 2} .0151044{col 63}{space 1}   -0.61{col 72}{space 3}0.545{col 80}{space 4}-.0388179{col 93}{space 3} .0205046
{txt}{space 34}LBN  {c |}{col 40}{res}{space 2} .0257255{col 52}{space 2} .0303943{col 63}{space 1}    0.85{col 72}{space 3}0.398{col 80}{space 4}-.0339612{col 93}{space 3} .0854123
{txt}{space 34}LBR  {c |}{col 40}{res}{space 2} .0482041{col 52}{space 2} .0391983{col 63}{space 1}    1.23{col 72}{space 3}0.219{col 80}{space 4}-.0287715{col 93}{space 3} .1251796
{txt}{space 34}LKA  {c |}{col 40}{res}{space 2} -.004697{col 52}{space 2} .0166608{col 63}{space 1}   -0.28{col 72}{space 3}0.778{col 80}{space 4}-.0374146{col 93}{space 3} .0280205
{txt}{space 34}LSO  {c |}{col 40}{res}{space 2}-.0889689{col 52}{space 2} .0489057{col 63}{space 1}   -1.82{col 72}{space 3}0.069{col 80}{space 4}-.1850075{col 93}{space 3} .0070696
{txt}{space 34}MDA  {c |}{col 40}{res}{space 2}-.0129079{col 52}{space 2} .0117224{col 63}{space 1}   -1.10{col 72}{space 3}0.271{col 80}{space 4}-.0359279{col 93}{space 3}  .010112
{txt}{space 34}MDG  {c |}{col 40}{res}{space 2} .0279637{col 52}{space 2} .0224968{col 63}{space 1}    1.24{col 72}{space 3}0.214{col 80}{space 4}-.0162143{col 93}{space 3} .0721417
{txt}{space 34}MNG  {c |}{col 40}{res}{space 2}-.0015512{col 52}{space 2} .0259044{col 63}{space 1}   -0.06{col 72}{space 3}0.952{col 80}{space 4}-.0524209{col 93}{space 3} .0493185
{txt}{space 34}MOZ  {c |}{col 40}{res}{space 2} .0242934{col 52}{space 2}  .025926{col 63}{space 1}    0.94{col 72}{space 3}0.349{col 80}{space 4}-.0266187{col 93}{space 3} .0752055
{txt}{space 34}MRT  {c |}{col 40}{res}{space 2} .0612623{col 52}{space 2} .0329621{col 63}{space 1}    1.86{col 72}{space 3}0.064{col 80}{space 4}-.0034669{col 93}{space 3} .1259916
{txt}{space 34}MUS  {c |}{col 40}{res}{space 2}-.0035453{col 52}{space 2} .0204826{col 63}{space 1}   -0.17{col 72}{space 3}0.863{col 80}{space 4}-.0437681{col 93}{space 3} .0366774
{txt}{space 34}MWI  {c |}{col 40}{res}{space 2} .0074386{col 52}{space 2} .0277204{col 63}{space 1}    0.27{col 72}{space 3}0.789{col 80}{space 4}-.0469973{col 93}{space 3} .0618744
{txt}{space 34}NIC  {c |}{col 40}{res}{space 2} .0320597{col 52}{space 2} .0154829{col 63}{space 1}    2.07{col 72}{space 3}0.039{col 80}{space 4} .0016551{col 93}{space 3} .0624643
{txt}{space 34}NPL  {c |}{col 40}{res}{space 2}-.0173458{col 52}{space 2} .0203165{col 63}{space 1}   -0.85{col 72}{space 3}0.394{col 80}{space 4}-.0572424{col 93}{space 3} .0225507
{txt}{space 34}PAK  {c |}{col 40}{res}{space 2}-.0072874{col 52}{space 2} .0238828{col 63}{space 1}   -0.31{col 72}{space 3}0.760{col 80}{space 4}-.0541872{col 93}{space 3} .0396125
{txt}{space 34}PAN  {c |}{col 40}{res}{space 2}-.0290782{col 52}{space 2}  .030457{col 63}{space 1}   -0.95{col 72}{space 3}0.340{col 80}{space 4}-.0888881{col 93}{space 3} .0307317
{txt}{space 34}PER  {c |}{col 40}{res}{space 2} .0069015{col 52}{space 2} .0161757{col 63}{space 1}    0.43{col 72}{space 3}0.670{col 80}{space 4}-.0248635{col 93}{space 3} .0386666
{txt}{space 34}PHL  {c |}{col 40}{res}{space 2} .0056617{col 52}{space 2} .0150386{col 63}{space 1}    0.38{col 72}{space 3}0.707{col 80}{space 4}-.0238703{col 93}{space 3} .0351937
{txt}{space 34}PNG  {c |}{col 40}{res}{space 2} .0061025{col 52}{space 2} .0280571{col 63}{space 1}    0.22{col 72}{space 3}0.828{col 80}{space 4}-.0489946{col 93}{space 3} .0611995
{txt}{space 34}PRY  {c |}{col 40}{res}{space 2} .0112601{col 52}{space 2} .0208699{col 63}{space 1}    0.54{col 72}{space 3}0.590{col 80}{space 4}-.0297232{col 93}{space 3} .0522434
{txt}{space 34}ROU  {c |}{col 40}{res}{space 2}-.0077124{col 52}{space 2} .0149023{col 63}{space 1}   -0.52{col 72}{space 3}0.605{col 80}{space 4}-.0369768{col 93}{space 3} .0215521
{txt}{space 34}SLE  {c |}{col 40}{res}{space 2} .0460531{col 52}{space 2} .0291695{col 63}{space 1}    1.58{col 72}{space 3}0.115{col 80}{space 4}-.0112286{col 93}{space 3} .1033347
{txt}{space 34}SLV  {c |}{col 40}{res}{space 2} .0061165{col 52}{space 2} .0103094{col 63}{space 1}    0.59{col 72}{space 3}0.553{col 80}{space 4}-.0141287{col 93}{space 3} .0263616
{txt}{space 34}THA  {c |}{col 40}{res}{space 2}-.0374549{col 52}{space 2} .0207927{col 63}{space 1}   -1.80{col 72}{space 3}0.072{col 80}{space 4}-.0782865{col 93}{space 3} .0033768
{txt}{space 34}TLS  {c |}{col 40}{res}{space 2} .1395643{col 52}{space 2} .1315021{col 63}{space 1}    1.06{col 72}{space 3}0.289{col 80}{space 4}-.1186727{col 93}{space 3} .3978013
{txt}{space 34}TUN  {c |}{col 40}{res}{space 2}-.0266381{col 52}{space 2} .0260174{col 63}{space 1}   -1.02{col 72}{space 3}0.306{col 80}{space 4}-.0777298{col 93}{space 3} .0244536
{txt}{space 34}TZA  {c |}{col 40}{res}{space 2} .0189178{col 52}{space 2} .0232681{col 63}{space 1}    0.81{col 72}{space 3}0.417{col 80}{space 4} -.026775{col 93}{space 3} .0646106
{txt}{space 34}UKR  {c |}{col 40}{res}{space 2}-.0274274{col 52}{space 2} .0201208{col 63}{space 1}   -1.36{col 72}{space 3}0.173{col 80}{space 4}-.0669396{col 93}{space 3} .0120848
{txt}{space 34}ZAF  {c |}{col 40}{res}{space 2}-.0313343{col 52}{space 2} .0246001{col 63}{space 1}   -1.27{col 72}{space 3}0.203{col 80}{space 4}-.0796427{col 93}{space 3} .0169741
{txt}{space 34}ZMB  {c |}{col 40}{res}{space 2} .0042143{col 52}{space 2} .0236792{col 63}{space 1}    0.18{col 72}{space 3}0.859{col 80}{space 4}-.0422857{col 93}{space 3} .0507142
{txt}{space 38} {c |}
{space 34}year {c |}{col 40}{res}{space 2} .0029188{col 52}{space 2} .0021513{col 63}{space 1}    1.36{col 72}{space 3}0.175{col 80}{space 4}-.0013058{col 93}{space 3} .0071435
{txt}{space 19}GlobalReserveLevels {c |}{col 40}{res}{space 2} 5.11e-13{col 52}{space 2} 3.07e-13{col 63}{space 1}    1.66{col 72}{space 3}0.097{col 80}{space 4}-9.21e-14{col 93}{space 3} 1.11e-12
{txt}{space 38} {c |}
{space 10}c.year#c.GlobalReserveLevels {c |}{col 40}{res}{space 2}-2.57e-16{col 52}{space 2} 1.53e-16{col 63}{space 1}   -1.67{col 72}{space 3}0.095{col 80}{space 4}-5.58e-16{col 93}{space 3} 4.47e-17
{txt}{space 38} {c |}
{space 33}_cons {c |}{col 40}{res}{space 2}-5.887354{col 52}{space 2} 4.293731{col 63}{space 1}   -1.37{col 72}{space 3}0.171{col 80}{space 4}-14.31916{col 93}{space 3} 2.544454
{txt}{hline 39}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store a2
{txt}
{com}. 
. estout a1 a2, cells(b(star fmt(%9.3f)) se(par fmt(%9.3f))) starlevels(+ 0.1 * 0.05 ) ///
> stats(r2 N , fmt(%9.2f %9.0f) labels("R2" ))  style(tex) ///
> legend label collabels(none) ///
> varlabels(_cons Constant  "c.ElectionPeriod#c.US10YrYields_AnnAvg" "Election*USrates" "c.year#c.GlobalReserveLevels" "Year*GlobalReserves" ) ///
> order(ElectionPeriod US10YrYields_AnnAvg post_Election   c.ElectionPeriod#c.US10YrYields_AnnAvg  ) keep(ElectionPeriod US10YrYields_AnnAvg post_Election   c.ElectionPeriod#c.US10YrYields_AnnAvg  ) ///
> mlabels ("Model 1"  "Model 2") ///
> title("") 
{res}
                    &     Model 1 &     Model 2 \\
ElectionPeriod      &      -0.002 &       0.017+\\
                    &     (0.004) &     (0.009) \\
US10YrYields_AnnAvg &      -0.004 &      -0.002 \\
                    &     (0.004) &     (0.004) \\
post_Election       &             &             \\
                    &             &             \\
Election*USrates    &             &      -0.006*\\
                    &             &     (0.003) \\
R2                  &        0.12 &        0.12 \\
N                   &         701 &         701 \\
+ p<0.1, * p<0.05
{txt}
{com}. 
. 
. gen reserves = deltaReservesPerGDP_incGold*ReservesPerGDP_incGold
{txt}(356 missing values generated)

{com}. gen pdreserves = d.reserves /l.reserves 
{txt}(467 missing values generated)

{com}. 
. 
. regress pdreserves ElectionPeriod ElectionYear  US10YrYields_AnnAvg l.reserves l.GDPpcap l.GDPgrowth l.ny_gdp_totl_rt_zs l.CurrAcctBal_PerGDP l.ExtDebtStocks_PerGNI l.DebtService_PerGDP l.Inflation_annGDPdeflator l.PegBandManaged_NoUnion l.lvaw_garriga l.Taxes_PerGDP l.BestCRtg l.cyrs l.dyrs l.v2x_polyarchy l.Left i.country_num c.year##c.GlobalReserveLevels, robust

{txt}Linear regression                               Number of obs     = {res}       701
                                                {txt}{help j_robustsingular:F(69, 629) }       =  {res}        .
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.1623
                                                {txt}Root MSE          =    {res}  16.05

{txt}{hline 29}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 30}{c |}{col 42}    Robust
{col 1}                  pdreserves{col 30}{c |}      Coef.{col 42}   Std. Err.{col 54}      t{col 62}   P>|t|{col 70}     [95% Con{col 83}f. Interval]
{hline 29}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 14}ElectionPeriod {c |}{col 30}{res}{space 2} 2.258664{col 42}{space 2} 1.143578{col 53}{space 1}    1.98{col 62}{space 3}0.049{col 70}{space 4} .0129707{col 83}{space 3} 4.504358
{txt}{space 16}ElectionYear {c |}{col 30}{res}{space 2}  -1.4963{col 42}{space 2} 1.670782{col 53}{space 1}   -0.90{col 62}{space 3}0.371{col 70}{space 4}-4.777287{col 83}{space 3} 1.784686
{txt}{space 9}US10YrYields_AnnAvg {c |}{col 30}{res}{space 2}-1.667777{col 42}{space 2} 1.343208{col 53}{space 1}   -1.24{col 62}{space 3}0.215{col 70}{space 4}-4.305493{col 83}{space 3} .9699387
{txt}{space 28} {c |}
{space 20}reserves {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-27.44508{col 42}{space 2} 35.30783{col 53}{space 1}   -0.78{col 62}{space 3}0.437{col 70}{space 4}-96.78058{col 83}{space 3} 41.89041
{txt}{space 28} {c |}
{space 21}GDPpcap {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0016008{col 42}{space 2} .0011847{col 53}{space 1}    1.35{col 62}{space 3}0.177{col 70}{space 4}-.0007255{col 83}{space 3} .0039272
{txt}{space 28} {c |}
{space 19}GDPgrowth {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0784698{col 42}{space 2} .1353962{col 53}{space 1}   -0.58{col 62}{space 3}0.562{col 70}{space 4}-.3443532{col 83}{space 3} .1874135
{txt}{space 28} {c |}
{space 11}ny_gdp_totl_rt_zs {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.2064688{col 42}{space 2} .1994276{col 53}{space 1}   -1.04{col 62}{space 3}0.301{col 70}{space 4}-.5980932{col 83}{space 3} .1851556
{txt}{space 28} {c |}
{space 10}CurrAcctBal_PerGDP {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0641512{col 42}{space 2} .1253612{col 53}{space 1}    0.51{col 62}{space 3}0.609{col 70}{space 4}-.1820258{col 83}{space 3} .3103283
{txt}{space 28} {c |}
{space 8}ExtDebtStocks_PerGNI {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0505467{col 42}{space 2} .0291518{col 53}{space 1}    1.73{col 62}{space 3}0.083{col 70}{space 4}   -.0067{col 83}{space 3} .1077934
{txt}{space 28} {c |}
{space 10}DebtService_PerGDP {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-14.27997{col 42}{space 2} 24.15984{col 53}{space 1}   -0.59{col 62}{space 3}0.555{col 70}{space 4}-61.72368{col 83}{space 3} 33.16373
{txt}{space 28} {c |}
{space 4}Inflation_annGDPdeflator {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.1023323{col 42}{space 2}  .089821{col 53}{space 1}   -1.14{col 62}{space 3}0.255{col 70}{space 4}-.2787177{col 83}{space 3}  .074053
{txt}{space 28} {c |}
{space 6}PegBandManaged_NoUnion {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .7527004{col 42}{space 2} 2.296541{col 53}{space 1}    0.33{col 62}{space 3}0.743{col 70}{space 4}-3.757116{col 83}{space 3} 5.262517
{txt}{space 28} {c |}
{space 16}lvaw_garriga {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} 6.411108{col 42}{space 2} 7.724423{col 53}{space 1}    0.83{col 62}{space 3}0.407{col 70}{space 4}-8.757671{col 83}{space 3} 21.57989
{txt}{space 28} {c |}
{space 16}Taxes_PerGDP {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}  103.696{col 42}{space 2} 111.8473{col 53}{space 1}    0.93{col 62}{space 3}0.354{col 70}{space 4}-115.9433{col 83}{space 3} 323.3352
{txt}{space 28} {c |}
{space 20}BestCRtg {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.1164946{col 42}{space 2} .3816644{col 53}{space 1}   -0.31{col 62}{space 3}0.760{col 70}{space 4}-.8659852{col 83}{space 3}  .632996
{txt}{space 28} {c |}
{space 24}cyrs {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .1871214{col 42}{space 2} .3229295{col 53}{space 1}    0.58{col 62}{space 3}0.562{col 70}{space 4}-.4470291{col 83}{space 3} .8212718
{txt}{space 28} {c |}
{space 24}dyrs {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.2188164{col 42}{space 2} .1253956{col 53}{space 1}   -1.75{col 62}{space 3}0.081{col 70}{space 4}-.4650611{col 83}{space 3} .0274282
{txt}{space 28} {c |}
{space 15}v2x_polyarchy {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-34.96028{col 42}{space 2} 18.05726{col 53}{space 1}   -1.94{col 62}{space 3}0.053{col 70}{space 4} -70.4201{col 83}{space 3} .4995317
{txt}{space 28} {c |}
{space 21}LeftGov {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0207021{col 42}{space 2} 1.250622{col 53}{space 1}   -0.02{col 62}{space 3}0.987{col 70}{space 4}-2.476603{col 83}{space 3} 2.435198
{txt}{space 28} {c |}
{space 17}country_num {c |}
{space 24}ARG  {c |}{col 30}{res}{space 2}-7.251335{col 42}{space 2} 12.38842{col 53}{space 1}   -0.59{col 62}{space 3}0.559{col 70}{space 4}  -31.579{col 83}{space 3} 17.07633
{txt}{space 24}ARM  {c |}{col 30}{res}{space 2}  86.4735{col 42}{space 2} 3.657946{col 53}{space 1}   23.64{col 62}{space 3}0.000{col 70}{space 4} 79.29023{col 83}{space 3} 93.65676
{txt}{space 24}BGD  {c |}{col 30}{res}{space 2} 12.67772{col 42}{space 2} 10.20703{col 53}{space 1}    1.24{col 62}{space 3}0.215{col 70}{space 4}-7.366265{col 83}{space 3}  32.7217
{txt}{space 24}BGR  {c |}{col 30}{res}{space 2}-7.310426{col 42}{space 2} 7.419367{col 53}{space 1}   -0.99{col 62}{space 3}0.325{col 70}{space 4}-21.88015{col 83}{space 3} 7.259302
{txt}{space 24}BIH  {c |}{col 30}{res}{space 2}-7.711047{col 42}{space 2} 6.442259{col 53}{space 1}   -1.20{col 62}{space 3}0.232{col 70}{space 4}-20.36199{col 83}{space 3} 4.939891
{txt}{space 24}BRA  {c |}{col 30}{res}{space 2} 2.749073{col 42}{space 2} 12.07087{col 53}{space 1}    0.23{col 62}{space 3}0.820{col 70}{space 4}-20.95501{col 83}{space 3} 26.45315
{txt}{space 24}BWA  {c |}{col 30}{res}{space 2}-.6190691{col 42}{space 2} 12.26145{col 53}{space 1}   -0.05{col 62}{space 3}0.960{col 70}{space 4} -24.6974{col 83}{space 3} 23.45926
{txt}{space 24}DOM  {c |}{col 30}{res}{space 2} 6.401446{col 42}{space 2} 5.810918{col 53}{space 1}    1.10{col 62}{space 3}0.271{col 70}{space 4}-5.009701{col 83}{space 3} 17.81259
{txt}{space 24}ECU  {c |}{col 30}{res}{space 2} 9.561307{col 42}{space 2} 6.711482{col 53}{space 1}    1.42{col 62}{space 3}0.155{col 70}{space 4}-3.618317{col 83}{space 3} 22.74093
{txt}{space 24}GEO  {c |}{col 30}{res}{space 2}-16.43446{col 42}{space 2} 9.041401{col 53}{space 1}   -1.82{col 62}{space 3}0.070{col 70}{space 4}-34.18944{col 83}{space 3} 1.320524
{txt}{space 24}GHA  {c |}{col 30}{res}{space 2} 23.50674{col 42}{space 2} 16.52025{col 53}{space 1}    1.42{col 62}{space 3}0.155{col 70}{space 4}-8.934787{col 83}{space 3} 55.94826
{txt}{space 24}GMB  {c |}{col 30}{res}{space 2} 32.95468{col 42}{space 2} 18.86389{col 53}{space 1}    1.75{col 62}{space 3}0.081{col 70}{space 4}-4.089137{col 83}{space 3}  69.9985
{txt}{space 24}GTM  {c |}{col 30}{res}{space 2} 8.460173{col 42}{space 2} 6.064812{col 53}{space 1}    1.39{col 62}{space 3}0.164{col 70}{space 4}-3.449557{col 83}{space 3}  20.3699
{txt}{space 24}HND  {c |}{col 30}{res}{space 2} 1.560099{col 42}{space 2}   2.7683{col 53}{space 1}    0.56{col 62}{space 3}0.573{col 70}{space 4} -3.87613{col 83}{space 3} 6.996328
{txt}{space 24}HTI  {c |}{col 30}{res}{space 2} 16.00819{col 42}{space 2} 17.14734{col 53}{space 1}    0.93{col 62}{space 3}0.351{col 70}{space 4}-17.66477{col 83}{space 3} 49.68116
{txt}{space 24}IDN  {c |}{col 30}{res}{space 2}  14.2491{col 42}{space 2} 8.725237{col 53}{space 1}    1.63{col 62}{space 3}0.103{col 70}{space 4}-2.885023{col 83}{space 3} 31.38322
{txt}{space 24}IND  {c |}{col 30}{res}{space 2} 16.06975{col 42}{space 2}  7.02792{col 53}{space 1}    2.29{col 62}{space 3}0.023{col 70}{space 4} 2.268723{col 83}{space 3} 29.87077
{txt}{space 24}JAM  {c |}{col 30}{res}{space 2}-.3360045{col 42}{space 2} 8.828978{col 53}{space 1}   -0.04{col 62}{space 3}0.970{col 70}{space 4}-17.67384{col 83}{space 3} 17.00184
{txt}{space 24}KEN  {c |}{col 30}{res}{space 2} 8.364627{col 42}{space 2} 7.217323{col 53}{space 1}    1.16{col 62}{space 3}0.247{col 70}{space 4}-5.808338{col 83}{space 3} 22.53759
{txt}{space 24}KGZ  {c |}{col 30}{res}{space 2} 3.313806{col 42}{space 2}  4.61805{col 53}{space 1}    0.72{col 62}{space 3}0.473{col 70}{space 4}-5.754855{col 83}{space 3} 12.38247
{txt}{space 24}LBN  {c |}{col 30}{res}{space 2}-.2423361{col 42}{space 2} 5.515729{col 53}{space 1}   -0.04{col 62}{space 3}0.965{col 70}{space 4}-11.07381{col 83}{space 3} 10.58914
{txt}{space 24}LBR  {c |}{col 30}{res}{space 2} 16.26738{col 42}{space 2} 19.37482{col 53}{space 1}    0.84{col 62}{space 3}0.401{col 70}{space 4}-21.77978{col 83}{space 3} 54.31455
{txt}{space 24}LKA  {c |}{col 30}{res}{space 2} 5.934264{col 42}{space 2} 4.096716{col 53}{space 1}    1.45{col 62}{space 3}0.148{col 70}{space 4}-2.110633{col 83}{space 3} 13.97916
{txt}{space 24}LSO  {c |}{col 30}{res}{space 2}-33.02807{col 42}{space 2} 37.16265{col 53}{space 1}   -0.89{col 62}{space 3}0.374{col 70}{space 4}-106.0059{col 83}{space 3} 39.94981
{txt}{space 24}MDA  {c |}{col 30}{res}{space 2}-2.366088{col 42}{space 2} 2.068367{col 53}{space 1}   -1.14{col 62}{space 3}0.253{col 70}{space 4}-6.427829{col 83}{space 3} 1.695653
{txt}{space 24}MDG  {c |}{col 30}{res}{space 2} 12.48526{col 42}{space 2} 13.39845{col 53}{space 1}    0.93{col 62}{space 3}0.352{col 70}{space 4}-13.82585{col 83}{space 3} 38.79637
{txt}{space 24}MNG  {c |}{col 30}{res}{space 2} 10.50071{col 42}{space 2} 9.575226{col 53}{space 1}    1.10{col 62}{space 3}0.273{col 70}{space 4}-8.302566{col 83}{space 3} 29.30399
{txt}{space 24}MOZ  {c |}{col 30}{res}{space 2} 13.55353{col 42}{space 2} 11.68926{col 53}{space 1}    1.16{col 62}{space 3}0.247{col 70}{space 4}-9.401176{col 83}{space 3} 36.50823
{txt}{space 24}MRT  {c |}{col 30}{res}{space 2} 9.949845{col 42}{space 2} 10.68734{col 53}{space 1}    0.93{col 62}{space 3}0.352{col 70}{space 4}-11.03733{col 83}{space 3} 30.93702
{txt}{space 24}MUS  {c |}{col 30}{res}{space 2} -3.28934{col 42}{space 2}  9.25273{col 53}{space 1}   -0.36{col 62}{space 3}0.722{col 70}{space 4}-21.45932{col 83}{space 3} 14.88064
{txt}{space 24}MWI  {c |}{col 30}{res}{space 2} 17.84747{col 42}{space 2} 17.69462{col 53}{space 1}    1.01{col 62}{space 3}0.314{col 70}{space 4}-16.90022{col 83}{space 3} 52.59515
{txt}{space 24}NIC  {c |}{col 30}{res}{space 2}-7.841424{col 42}{space 2} 14.91087{col 53}{space 1}   -0.53{col 62}{space 3}0.599{col 70}{space 4}-37.12254{col 83}{space 3} 21.43969
{txt}{space 24}NPL  {c |}{col 30}{res}{space 2} 16.94712{col 42}{space 2} 7.984894{col 53}{space 1}    2.12{col 62}{space 3}0.034{col 70}{space 4} 1.266843{col 83}{space 3} 32.62739
{txt}{space 24}PAK  {c |}{col 30}{res}{space 2} 8.085363{col 42}{space 2} 7.380679{col 53}{space 1}    1.10{col 62}{space 3}0.274{col 70}{space 4}-6.408391{col 83}{space 3} 22.57912
{txt}{space 24}PAN  {c |}{col 30}{res}{space 2}-5.726166{col 42}{space 2} 12.54841{col 53}{space 1}   -0.46{col 62}{space 3}0.648{col 70}{space 4}  -30.368{col 83}{space 3} 18.91567
{txt}{space 24}PER  {c |}{col 30}{res}{space 2} 9.360545{col 42}{space 2} 5.602589{col 53}{space 1}    1.67{col 62}{space 3}0.095{col 70}{space 4}-1.641499{col 83}{space 3} 20.36259
{txt}{space 24}PHL  {c |}{col 30}{res}{space 2}  9.13093{col 42}{space 2}  6.31031{col 53}{space 1}    1.45{col 62}{space 3}0.148{col 70}{space 4}-3.260895{col 83}{space 3} 21.52276
{txt}{space 24}PNG  {c |}{col 30}{res}{space 2} 5.861836{col 42}{space 2} 5.888965{col 53}{space 1}    1.00{col 62}{space 3}0.320{col 70}{space 4}-5.702576{col 83}{space 3} 17.42625
{txt}{space 24}PRY  {c |}{col 30}{res}{space 2} 10.02803{col 42}{space 2} 9.840037{col 53}{space 1}    1.02{col 62}{space 3}0.309{col 70}{space 4}-9.295269{col 83}{space 3} 29.35133
{txt}{space 24}ROU  {c |}{col 30}{res}{space 2}-.7757029{col 42}{space 2} 5.603302{col 53}{space 1}   -0.14{col 62}{space 3}0.890{col 70}{space 4}-11.77915{col 83}{space 3} 10.22774
{txt}{space 24}SLE  {c |}{col 30}{res}{space 2}  16.6834{col 42}{space 2} 15.94868{col 53}{space 1}    1.05{col 62}{space 3}0.296{col 70}{space 4} -14.6357{col 83}{space 3}  48.0025
{txt}{space 24}SLV  {c |}{col 30}{res}{space 2}-.7231395{col 42}{space 2} 3.639245{col 53}{space 1}   -0.20{col 62}{space 3}0.843{col 70}{space 4}-7.869681{col 83}{space 3} 6.423402
{txt}{space 24}THA  {c |}{col 30}{res}{space 2} .1166327{col 42}{space 2}  6.58987{col 53}{space 1}    0.02{col 62}{space 3}0.986{col 70}{space 4}-12.82418{col 83}{space 3} 13.05744
{txt}{space 24}TLS  {c |}{col 30}{res}{space 2} 36.73249{col 42}{space 2} 15.96065{col 53}{space 1}    2.30{col 62}{space 3}0.022{col 70}{space 4} 5.389868{col 83}{space 3}  68.0751
{txt}{space 24}TUN  {c |}{col 30}{res}{space 2}-.9196292{col 42}{space 2} 12.27057{col 53}{space 1}   -0.07{col 62}{space 3}0.940{col 70}{space 4}-25.01586{col 83}{space 3} 23.17661
{txt}{space 24}TZA  {c |}{col 30}{res}{space 2} 8.136765{col 42}{space 2}  12.3245{col 53}{space 1}    0.66{col 62}{space 3}0.509{col 70}{space 4}-16.06538{col 83}{space 3} 32.33891
{txt}{space 24}UKR  {c |}{col 30}{res}{space 2}-5.388109{col 42}{space 2} 4.046601{col 53}{space 1}   -1.33{col 62}{space 3}0.184{col 70}{space 4}-13.33459{col 83}{space 3} 2.558375
{txt}{space 24}ZAF  {c |}{col 30}{res}{space 2} 2.874655{col 42}{space 2} 10.48573{col 53}{space 1}    0.27{col 62}{space 3}0.784{col 70}{space 4}-17.71662{col 83}{space 3} 23.46593
{txt}{space 24}ZMB  {c |}{col 30}{res}{space 2} 7.253309{col 42}{space 2} 7.706169{col 53}{space 1}    0.94{col 62}{space 3}0.347{col 70}{space 4}-7.879624{col 83}{space 3} 22.38624
{txt}{space 28} {c |}
{space 24}year {c |}{col 30}{res}{space 2}-1.732348{col 42}{space 2} .9225608{col 53}{space 1}   -1.88{col 62}{space 3}0.061{col 70}{space 4} -3.54402{col 83}{space 3} .0793237
{txt}{space 9}GlobalReserveLevels {c |}{col 30}{res}{space 2} 3.44e-12{col 42}{space 2} 1.17e-10{col 53}{space 1}    0.03{col 62}{space 3}0.977{col 70}{space 4}-2.26e-10{col 83}{space 3} 2.33e-10
{txt}{space 28} {c |}
c.year#c.GlobalReserveLevels {c |}{col 30}{res}{space 2}-1.03e-15{col 42}{space 2} 5.83e-14{col 53}{space 1}   -0.02{col 62}{space 3}0.986{col 70}{space 4}-1.15e-13{col 83}{space 3} 1.13e-13
{txt}{space 28} {c |}
{space 23}_cons {c |}{col 30}{res}{space 2} 3464.267{col 42}{space 2} 1837.315{col 53}{space 1}    1.89{col 62}{space 3}0.060{col 70}{space 4}-143.7469{col 83}{space 3} 7072.281
{txt}{hline 29}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store a3
{txt}
{com}. 
. regress pdreserves c.ElectionPeriod##c.US10YrYields_AnnAvg ElectionYear l.reserves  l.GDPpcap l.GDPgrowth l.ny_gdp_totl_rt_zs l.CurrAcctBal_PerGDP l.ExtDebtStocks_PerGNI l.DebtService_PerGDP l.Inflation_annGDPdeflator l.PegBandManaged_NoUnion l.lvaw_garriga l.Taxes_PerGDP l.BestCRtg l.cyrs l.dyrs l.v2x_polyarchy l.Left i.country_num c.year##c.GlobalReserveLevels, robust

{txt}Linear regression                               Number of obs     = {res}       701
                                                {txt}{help j_robustsingular:F(70, 628) }       =  {res}        .
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.1659
                                                {txt}Root MSE          =    {res} 16.028

{txt}{hline 39}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 40}{c |}{col 52}    Robust
{col 1}                            pdreserves{col 40}{c |}      Coef.{col 52}   Std. Err.{col 64}      t{col 72}   P>|t|{col 80}     [95% Con{col 93}f. Interval]
{hline 39}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 24}ElectionPeriod {c |}{col 40}{res}{space 2} 8.839296{col 52}{space 2} 4.116065{col 63}{space 1}    2.15{col 72}{space 3}0.032{col 80}{space 4} .7563793{col 93}{space 3} 16.92221
{txt}{space 19}US10YrYields_AnnAvg {c |}{col 40}{res}{space 2} -1.06221{col 52}{space 2} 1.323781{col 63}{space 1}   -0.80{col 72}{space 3}0.423{col 80}{space 4}-3.661783{col 93}{space 3} 1.537363
{txt}{space 38} {c |}
c.ElectionPeriod#c.US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-2.038851{col 52}{space 2} 1.155821{col 63}{space 1}   -1.76{col 72}{space 3}0.078{col 80}{space 4}-4.308592{col 93}{space 3} .2308904
{txt}{space 38} {c |}
{space 26}ElectionYear {c |}{col 40}{res}{space 2}-1.409133{col 52}{space 2} 1.649178{col 63}{space 1}   -0.85{col 72}{space 3}0.393{col 80}{space 4}-4.647704{col 93}{space 3} 1.829438
{txt}{space 38} {c |}
{space 30}reserves {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-28.42486{col 52}{space 2}  35.4477{col 63}{space 1}   -0.80{col 72}{space 3}0.423{col 80}{space 4}-98.03524{col 93}{space 3} 41.18552
{txt}{space 38} {c |}
{space 31}GDPpcap {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}  .001611{col 52}{space 2} .0011842{col 63}{space 1}    1.36{col 72}{space 3}0.174{col 80}{space 4}-.0007144{col 93}{space 3} .0039365
{txt}{space 38} {c |}
{space 29}GDPgrowth {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0623878{col 52}{space 2} .1379885{col 63}{space 1}   -0.45{col 72}{space 3}0.651{col 80}{space 4}-.3333626{col 93}{space 3}  .208587
{txt}{space 38} {c |}
{space 21}ny_gdp_totl_rt_zs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.2235497{col 52}{space 2} .2041339{col 63}{space 1}   -1.10{col 72}{space 3}0.274{col 80}{space 4}-.6244174{col 93}{space 3}  .177318
{txt}{space 38} {c |}
{space 20}CurrAcctBal_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0695009{col 52}{space 2} .1262233{col 63}{space 1}    0.55{col 72}{space 3}0.582{col 80}{space 4}-.1783699{col 93}{space 3} .3173716
{txt}{space 38} {c |}
{space 18}ExtDebtStocks_PerGNI {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0498855{col 52}{space 2} .0291862{col 63}{space 1}    1.71{col 72}{space 3}0.088{col 80}{space 4} -.007429{col 93}{space 3} .1071999
{txt}{space 38} {c |}
{space 20}DebtService_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-14.34386{col 52}{space 2} 24.35423{col 63}{space 1}   -0.59{col 72}{space 3}0.556{col 80}{space 4}-62.16944{col 93}{space 3} 33.48172
{txt}{space 38} {c |}
{space 14}Inflation_annGDPdeflator {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0911523{col 52}{space 2} .0884331{col 63}{space 1}   -1.03{col 72}{space 3}0.303{col 80}{space 4}-.2648126{col 93}{space 3} .0825081
{txt}{space 38} {c |}
{space 16}PegBandManaged_NoUnion {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .6567136{col 52}{space 2} 2.281001{col 63}{space 1}    0.29{col 72}{space 3}0.774{col 80}{space 4}  -3.8226{col 93}{space 3} 5.136027
{txt}{space 38} {c |}
{space 26}lvaw_garriga {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}  8.62569{col 52}{space 2}  8.08932{col 63}{space 1}    1.07{col 72}{space 3}0.287{col 80}{space 4}-7.259701{col 93}{space 3} 24.51108
{txt}{space 38} {c |}
{space 26}Taxes_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} 104.6355{col 52}{space 2} 111.9274{col 63}{space 1}    0.93{col 72}{space 3}0.350{col 80}{space 4}-115.1618{col 93}{space 3} 324.4327
{txt}{space 38} {c |}
{space 30}BestCRtg {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.1093023{col 52}{space 2} .3794391{col 63}{space 1}   -0.29{col 72}{space 3}0.773{col 80}{space 4}-.8544253{col 93}{space 3} .6358206
{txt}{space 38} {c |}
{space 34}cyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .1904935{col 52}{space 2} .3230754{col 63}{space 1}    0.59{col 72}{space 3}0.556{col 80}{space 4}-.4439455{col 93}{space 3} .8249325
{txt}{space 38} {c |}
{space 34}dyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.2235683{col 52}{space 2} .1257184{col 63}{space 1}   -1.78{col 72}{space 3}0.076{col 80}{space 4}-.4704477{col 93}{space 3} .0233111
{txt}{space 38} {c |}
{space 25}v2x_polyarchy {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-33.94394{col 52}{space 2} 17.63784{col 63}{space 1}   -1.92{col 72}{space 3}0.055{col 80}{space 4}-68.58022{col 93}{space 3} .6923451
{txt}{space 38} {c |}
{space 31}LeftGov {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}  -.10266{col 52}{space 2} 1.235145{col 63}{space 1}   -0.08{col 72}{space 3}0.934{col 80}{space 4}-2.528175{col 93}{space 3} 2.322855
{txt}{space 38} {c |}
{space 27}country_num {c |}
{space 34}ARG  {c |}{col 40}{res}{space 2}-7.617382{col 52}{space 2} 12.34933{col 63}{space 1}   -0.62{col 72}{space 3}0.538{col 80}{space 4}-31.86835{col 93}{space 3} 16.63359
{txt}{space 34}ARM  {c |}{col 40}{res}{space 2} 85.31584{col 52}{space 2} 3.935241{col 63}{space 1}   21.68{col 72}{space 3}0.000{col 80}{space 4} 77.58802{col 93}{space 3} 93.04367
{txt}{space 34}BGD  {c |}{col 40}{res}{space 2} 14.20746{col 52}{space 2} 10.41507{col 63}{space 1}    1.36{col 72}{space 3}0.173{col 80}{space 4}-6.245119{col 93}{space 3} 34.66005
{txt}{space 34}BGR  {c |}{col 40}{res}{space 2}-7.580442{col 52}{space 2} 7.436165{col 63}{space 1}   -1.02{col 72}{space 3}0.308{col 80}{space 4} -22.1832{col 93}{space 3} 7.022317
{txt}{space 34}BIH  {c |}{col 40}{res}{space 2}-8.279364{col 52}{space 2} 6.520363{col 63}{space 1}   -1.27{col 72}{space 3}0.205{col 80}{space 4}-21.08372{col 93}{space 3} 4.524991
{txt}{space 34}BRA  {c |}{col 40}{res}{space 2} 3.933312{col 52}{space 2}  12.1745{col 63}{space 1}    0.32{col 72}{space 3}0.747{col 80}{space 4}-19.97434{col 93}{space 3} 27.84096
{txt}{space 34}BWA  {c |}{col 40}{res}{space 2}-.4022141{col 52}{space 2} 12.23608{col 63}{space 1}   -0.03{col 72}{space 3}0.974{col 80}{space 4}-24.43079{col 93}{space 3} 23.62636
{txt}{space 34}DOM  {c |}{col 40}{res}{space 2} 6.309645{col 52}{space 2} 5.769266{col 63}{space 1}    1.09{col 72}{space 3}0.275{col 80}{space 4}-5.019744{col 93}{space 3} 17.63903
{txt}{space 34}ECU  {c |}{col 40}{res}{space 2} 10.05408{col 52}{space 2} 6.840998{col 63}{space 1}    1.47{col 72}{space 3}0.142{col 80}{space 4}-3.379924{col 93}{space 3} 23.48808
{txt}{space 34}GEO  {c |}{col 40}{res}{space 2}-16.57515{col 52}{space 2} 9.109951{col 63}{space 1}   -1.82{col 72}{space 3}0.069{col 80}{space 4} -34.4648{col 93}{space 3} 1.314509
{txt}{space 34}GHA  {c |}{col 40}{res}{space 2} 23.72146{col 52}{space 2}  16.5663{col 63}{space 1}    1.43{col 72}{space 3}0.153{col 80}{space 4}-8.810593{col 93}{space 3} 56.25351
{txt}{space 34}GMB  {c |}{col 40}{res}{space 2} 34.21928{col 52}{space 2} 19.10795{col 63}{space 1}    1.79{col 72}{space 3}0.074{col 80}{space 4}-3.303936{col 93}{space 3}  71.7425
{txt}{space 34}GTM  {c |}{col 40}{res}{space 2} 8.628724{col 52}{space 2} 6.097172{col 63}{space 1}    1.42{col 72}{space 3}0.158{col 80}{space 4}-3.344589{col 93}{space 3} 20.60204
{txt}{space 34}HND  {c |}{col 40}{res}{space 2} 1.777354{col 52}{space 2} 2.861449{col 63}{space 1}    0.62{col 72}{space 3}0.535{col 80}{space 4}-3.841813{col 93}{space 3}  7.39652
{txt}{space 34}HTI  {c |}{col 40}{res}{space 2}  17.1505{col 52}{space 2} 17.27583{col 63}{space 1}    0.99{col 72}{space 3}0.321{col 80}{space 4}-16.77488{col 93}{space 3} 51.07587
{txt}{space 34}IDN  {c |}{col 40}{res}{space 2} 13.91653{col 52}{space 2}  8.64114{col 63}{space 1}    1.61{col 72}{space 3}0.108{col 80}{space 4}  -3.0525{col 93}{space 3} 30.88556
{txt}{space 34}IND  {c |}{col 40}{res}{space 2} 17.09181{col 52}{space 2} 7.270961{col 63}{space 1}    2.35{col 72}{space 3}0.019{col 80}{space 4} 2.813472{col 93}{space 3} 31.37015
{txt}{space 34}JAM  {c |}{col 40}{res}{space 2}  .626765{col 52}{space 2} 8.863483{col 63}{space 1}    0.07{col 72}{space 3}0.944{col 80}{space 4}-16.77889{col 93}{space 3} 18.03242
{txt}{space 34}KEN  {c |}{col 40}{res}{space 2} 9.026579{col 52}{space 2}   7.3496{col 63}{space 1}    1.23{col 72}{space 3}0.220{col 80}{space 4}-5.406187{col 93}{space 3} 23.45935
{txt}{space 34}KGZ  {c |}{col 40}{res}{space 2}  4.15366{col 52}{space 2} 4.684942{col 63}{space 1}    0.89{col 72}{space 3}0.376{col 80}{space 4}-5.046388{col 93}{space 3} 13.35371
{txt}{space 34}LBN  {c |}{col 40}{res}{space 2} .8219117{col 52}{space 2} 5.547269{col 63}{space 1}    0.15{col 72}{space 3}0.882{col 80}{space 4}-10.07153{col 93}{space 3} 11.71535
{txt}{space 34}LBR  {c |}{col 40}{res}{space 2} 17.15216{col 52}{space 2} 19.50006{col 63}{space 1}    0.88{col 72}{space 3}0.379{col 80}{space 4}-21.14105{col 93}{space 3} 55.44537
{txt}{space 34}LKA  {c |}{col 40}{res}{space 2} 6.325824{col 52}{space 2} 4.132047{col 63}{space 1}    1.53{col 72}{space 3}0.126{col 80}{space 4}-1.788479{col 93}{space 3} 14.44013
{txt}{space 34}LSO  {c |}{col 40}{res}{space 2}-32.54311{col 52}{space 2} 37.05601{col 63}{space 1}   -0.88{col 72}{space 3}0.380{col 80}{space 4}-105.3118{col 93}{space 3} 40.22558
{txt}{space 34}MDA  {c |}{col 40}{res}{space 2}-2.552423{col 52}{space 2} 2.148723{col 63}{space 1}   -1.19{col 72}{space 3}0.235{col 80}{space 4}-6.771975{col 93}{space 3}  1.66713
{txt}{space 34}MDG  {c |}{col 40}{res}{space 2} 13.09817{col 52}{space 2} 13.49637{col 63}{space 1}    0.97{col 72}{space 3}0.332{col 80}{space 4} -13.4053{col 93}{space 3} 39.60164
{txt}{space 34}MNG  {c |}{col 40}{res}{space 2} 10.96652{col 52}{space 2} 9.631148{col 63}{space 1}    1.14{col 72}{space 3}0.255{col 80}{space 4}-7.946629{col 93}{space 3} 29.87968
{txt}{space 34}MOZ  {c |}{col 40}{res}{space 2} 15.17028{col 52}{space 2} 11.84375{col 63}{space 1}    1.28{col 72}{space 3}0.201{col 80}{space 4}-8.087874{col 93}{space 3} 38.42843
{txt}{space 34}MRT  {c |}{col 40}{res}{space 2} 11.63477{col 52}{space 2} 10.89577{col 63}{space 1}    1.07{col 72}{space 3}0.286{col 80}{space 4}-9.761785{col 93}{space 3} 33.03132
{txt}{space 34}MUS  {c |}{col 40}{res}{space 2}-3.009236{col 52}{space 2} 9.241763{col 63}{space 1}   -0.33{col 72}{space 3}0.745{col 80}{space 4}-21.15774{col 93}{space 3} 15.13926
{txt}{space 34}MWI  {c |}{col 40}{res}{space 2} 18.68345{col 52}{space 2} 17.84191{col 63}{space 1}    1.05{col 72}{space 3}0.295{col 80}{space 4}-16.35358{col 93}{space 3} 53.72049
{txt}{space 34}NIC  {c |}{col 40}{res}{space 2}-7.476665{col 52}{space 2} 14.67868{col 63}{space 1}   -0.51{col 72}{space 3}0.611{col 80}{space 4}-36.30191{col 93}{space 3} 21.34858
{txt}{space 34}NPL  {c |}{col 40}{res}{space 2} 16.31227{col 52}{space 2} 7.980274{col 63}{space 1}    2.04{col 72}{space 3}0.041{col 80}{space 4} .6410182{col 93}{space 3} 31.98352
{txt}{space 34}PAK  {c |}{col 40}{res}{space 2}  8.91395{col 52}{space 2} 7.444312{col 63}{space 1}    1.20{col 72}{space 3}0.232{col 80}{space 4}-5.704809{col 93}{space 3} 23.53271
{txt}{space 34}PAN  {c |}{col 40}{res}{space 2}-4.902418{col 52}{space 2} 12.54618{col 63}{space 1}   -0.39{col 72}{space 3}0.696{col 80}{space 4}-29.53996{col 93}{space 3} 19.73512
{txt}{space 34}PER  {c |}{col 40}{res}{space 2} 9.199014{col 52}{space 2} 5.557922{col 63}{space 1}    1.66{col 72}{space 3}0.098{col 80}{space 4}-1.715347{col 93}{space 3} 20.11338
{txt}{space 34}PHL  {c |}{col 40}{res}{space 2} 9.445242{col 52}{space 2} 6.356421{col 63}{space 1}    1.49{col 72}{space 3}0.138{col 80}{space 4}-3.037172{col 93}{space 3} 21.92766
{txt}{space 34}PNG  {c |}{col 40}{res}{space 2} 6.784581{col 52}{space 2} 6.072532{col 63}{space 1}    1.12{col 72}{space 3}0.264{col 80}{space 4}-5.140345{col 93}{space 3} 18.70951
{txt}{space 34}PRY  {c |}{col 40}{res}{space 2} 10.47282{col 52}{space 2} 9.931435{col 63}{space 1}    1.05{col 72}{space 3}0.292{col 80}{space 4}-9.030021{col 93}{space 3} 29.97566
{txt}{space 34}ROU  {c |}{col 40}{res}{space 2}-1.174004{col 52}{space 2} 5.600136{col 63}{space 1}   -0.21{col 72}{space 3}0.834{col 80}{space 4}-12.17126{col 93}{space 3} 9.823256
{txt}{space 34}SLE  {c |}{col 40}{res}{space 2} 17.01248{col 52}{space 2}  16.0025{col 63}{space 1}    1.06{col 72}{space 3}0.288{col 80}{space 4}-14.41242{col 93}{space 3} 48.43737
{txt}{space 34}SLV  {c |}{col 40}{res}{space 2}-.7699058{col 52}{space 2} 3.614377{col 63}{space 1}   -0.21{col 72}{space 3}0.831{col 80}{space 4}-7.867634{col 93}{space 3} 6.327823
{txt}{space 34}THA  {c |}{col 40}{res}{space 2} 1.622614{col 52}{space 2} 6.677955{col 63}{space 1}    0.24{col 72}{space 3}0.808{col 80}{space 4}-11.49121{col 93}{space 3} 14.73644
{txt}{space 34}TLS  {c |}{col 40}{res}{space 2} 36.34073{col 52}{space 2} 16.00082{col 63}{space 1}    2.27{col 72}{space 3}0.023{col 80}{space 4} 4.919147{col 93}{space 3} 67.76231
{txt}{space 34}TUN  {c |}{col 40}{res}{space 2} -.998568{col 52}{space 2} 12.26673{col 63}{space 1}   -0.08{col 72}{space 3}0.935{col 80}{space 4}-25.08735{col 93}{space 3} 23.09022
{txt}{space 34}TZA  {c |}{col 40}{res}{space 2}  8.61062{col 52}{space 2} 12.39209{col 63}{space 1}    0.69{col 72}{space 3}0.487{col 80}{space 4}-15.72432{col 93}{space 3} 32.94557
{txt}{space 34}UKR  {c |}{col 40}{res}{space 2}-5.702769{col 52}{space 2} 4.061609{col 63}{space 1}   -1.40{col 72}{space 3}0.161{col 80}{space 4}-13.67875{col 93}{space 3}  2.27321
{txt}{space 34}ZAF  {c |}{col 40}{res}{space 2} 3.565587{col 52}{space 2} 10.52468{col 63}{space 1}    0.34{col 72}{space 3}0.735{col 80}{space 4}-17.10225{col 93}{space 3} 24.23342
{txt}{space 34}ZMB  {c |}{col 40}{res}{space 2} 8.367463{col 52}{space 2} 7.899198{col 63}{space 1}    1.06{col 72}{space 3}0.290{col 80}{space 4}-7.144576{col 93}{space 3}  23.8795
{txt}{space 38} {c |}
{space 34}year {c |}{col 40}{res}{space 2}-1.648243{col 52}{space 2} .9064675{col 63}{space 1}   -1.82{col 72}{space 3}0.069{col 80}{space 4}-3.428317{col 93}{space 3} .1318314
{txt}{space 19}GlobalReserveLevels {c |}{col 40}{res}{space 2} 1.84e-11{col 52}{space 2} 1.17e-10{col 63}{space 1}    0.16{col 72}{space 3}0.875{col 80}{space 4}-2.12e-10{col 93}{space 3} 2.49e-10
{txt}{space 38} {c |}
{space 10}c.year#c.GlobalReserveLevels {c |}{col 40}{res}{space 2}-8.53e-15{col 52}{space 2} 5.85e-14{col 63}{space 1}   -0.15{col 72}{space 3}0.884{col 80}{space 4}-1.23e-13{col 93}{space 3} 1.06e-13
{txt}{space 38} {c |}
{space 33}_cons {c |}{col 40}{res}{space 2} 3291.577{col 52}{space 2} 1803.703{col 63}{space 1}    1.82{col 72}{space 3}0.068{col 80}{space 4}-250.4429{col 93}{space 3} 6833.596
{txt}{hline 39}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store a4
{txt}
{com}. 
. estout a1 a2 a3 a4, cells(b(star fmt(%9.3f)) se(par fmt(%9.3f))) starlevels(* 0.1 ** 0.05 ) ///
> stats(r2 N , fmt(%9.2f %9.0f) labels("R2" ))  style(tex) ///
> legend label collabels(none) ///
> varlabels(_cons Constant  "c.ElectionPeriod#c.US10YrYields_AnnAvg" "Election*USrates" "c.year#c.GlobalReserveLevels" "Year*GlobalReserves" ) ///
> order(ElectionPeriod US10YrYields_AnnAvg post_Election   c.ElectionPeriod#c.US10YrYields_AnnAvg  ) keep(ElectionPeriod US10YrYields_AnnAvg ElectionYear   c.ElectionPeriod#c.US10YrYields_AnnAvg  ) ///
> mlabels ("Model 1"  "Model 2") ///
> title("") 
{res}
                    &     Model 1  &     Model 2  &          a3  &          a4  \\
ElectionPeriod      &      -0.002  &       0.017* &       2.259**&       8.839**\\
                    &     (0.004)  &     (0.009)  &     (1.144)  &     (4.116)  \\
US10YrYields_AnnAvg &      -0.004  &      -0.002  &      -1.668  &      -1.062  \\
                    &     (0.004)  &     (0.004)  &     (1.343)  &     (1.324)  \\
Election*USrates    &              &      -0.006**&              &      -2.039* \\
                    &              &     (0.003)  &              &     (1.156)  \\
ElectionYear        &       0.004  &       0.005  &      -1.496  &      -1.409  \\
                    &     (0.005)  &     (0.005)  &     (1.671)  &     (1.649)  \\
R2                  &        0.12  &        0.12  &        0.16  &        0.17  \\
N                   &         701  &         701  &         701  &         701  \\
* p<0.1, ** p<0.05
{txt}
{com}. 
. 
. ***************************************************************************************************************************************************************************
. *Section H: Expanded Sample (Including Mexico and Turkey)
. 
. *Re-set so can add Mexico and Turkey from OECD countries
. use "data1_final.dta", clear
{txt}
{com}. tsset country_num year
{res}{txt}{col 8}panel variable:  {res}country_num (unbalanced)
{txt}{col 9}time variable:  {res}{col 25}year, 2000 to 2023
{txt}{col 17}delta:  {res}1 unit
{txt}
{com}. 
. *Subset to developing
. keep if oecd_1yes == 0 | iso=="MEX" | iso =="TUR"
{txt}(820 observations deleted)

{com}. *Subset to VDem democracy level
. keep if v2x_polyarchy > .42
{txt}(1,525 observations deleted)

{com}. 
. * Generate pre-election share
. replace  monthDPI= . if ElectionPeriod==0 
{txt}(97 real changes made, 97 to missing)

{com}. 
. gen preelec_share = 0 if year <=2020
{txt}(268 missing values generated)

{com}. replace preelec_share = monthDPI/12 if monthDPI != . 
{txt}(242 real changes made)

{com}. by iso, sort: replace preelec_share = (12-monthDPI[_n+1])/12 if monthDPI[_n+1] != .
{txt}(201 real changes made)

{com}. 
. tsset country_num year
{res}{txt}{col 8}panel variable:  {res}country_num (unbalanced)
{txt}{col 9}time variable:  {res}{col 25}year, 2000 to 2023, but with gaps
{txt}{col 17}delta:  {res}1 unit
{txt}
{com}. 
. 
. * Generate post-election share (monthly) 
. gen postelec_share = 0 if year <=2020
{txt}(268 missing values generated)

{com}. replace postelec_share = (12-monthDPI)/12 if monthDPI != .
{txt}(219 real changes made)

{com}. 
. * Generate post-election share (annual) 
. 
. gen post_Election =0 if year <=2020
{txt}(268 missing values generated)

{com}. replace post_Election =1 if year <=2020 & ElectionLastYear==1
{txt}(227 real changes made)

{com}. 
. 
. regress deltaReserves_Imports c.ElectionPeriod US10YrYields_AnnAvg ElectionYear l.deltaReserves_Imports l.GDPpcap l.GDPgrowth l.ny_gdp_totl_rt_zs l.CurrAcctBal_PerGDP l.ExtDebtStocks_PerGNI l.DebtService_PerGDP l.Inflation_annGDPdeflator l.PegBandManaged_NoUnion l.lvaw_garriga l.Taxes_PerGDP l.BestCRtg l.cyrs l.dyrs l.v2x_polyarchy l.Left i.country_num c.year##c.GlobalReserveLevels , robust

{txt}Linear regression                               Number of obs     = {res}       733
                                                {txt}{help j_robustsingular:F(71, 659) }       =  {res}        .
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0974
                                                {txt}Root MSE          =    {res} 1.0612

{txt}{hline 29}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 30}{c |}{col 42}    Robust
{col 1}       deltaReserves_Imports{col 30}{c |}      Coef.{col 42}   Std. Err.{col 54}      t{col 62}   P>|t|{col 70}     [95% Con{col 83}f. Interval]
{hline 29}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 14}ElectionPeriod {c |}{col 30}{res}{space 2}-.2158434{col 42}{space 2} .1023119{col 53}{space 1}   -2.11{col 62}{space 3}0.035{col 70}{space 4}  -.41674{col 83}{space 3}-.0149468
{txt}{space 9}US10YrYields_AnnAvg {c |}{col 30}{res}{space 2}-.2475555{col 42}{space 2} .0880107{col 53}{space 1}   -2.81{col 62}{space 3}0.005{col 70}{space 4}-.4203707{col 83}{space 3}-.0747402
{txt}{space 16}ElectionYear {c |}{col 30}{res}{space 2}  .164696{col 42}{space 2} .1262752{col 53}{space 1}    1.30{col 62}{space 3}0.193{col 70}{space 4}-.0832543{col 83}{space 3} .4126463
{txt}{space 28} {c |}
{space 7}deltaReserves_Imports {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.1652688{col 42}{space 2} .0560174{col 53}{space 1}   -2.95{col 62}{space 3}0.003{col 70}{space 4}-.2752629{col 83}{space 3}-.0552746
{txt}{space 28} {c |}
{space 21}GDPpcap {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0001121{col 42}{space 2} .0000572{col 53}{space 1}    1.96{col 62}{space 3}0.050{col 70}{space 4}-2.33e-07{col 83}{space 3} .0002244
{txt}{space 28} {c |}
{space 19}GDPgrowth {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0034982{col 42}{space 2} .0168228{col 53}{space 1}    0.21{col 62}{space 3}0.835{col 70}{space 4}-.0295345{col 83}{space 3} .0365309
{txt}{space 28} {c |}
{space 11}ny_gdp_totl_rt_zs {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0086165{col 42}{space 2}  .020536{col 53}{space 1}   -0.42{col 62}{space 3}0.675{col 70}{space 4}-.0489403{col 83}{space 3} .0317074
{txt}{space 28} {c |}
{space 10}CurrAcctBal_PerGDP {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0018692{col 42}{space 2} .0079311{col 53}{space 1}    0.24{col 62}{space 3}0.814{col 70}{space 4}-.0137041{col 83}{space 3} .0174425
{txt}{space 28} {c |}
{space 8}ExtDebtStocks_PerGNI {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0010424{col 42}{space 2} .0011839{col 53}{space 1}   -0.88{col 62}{space 3}0.379{col 70}{space 4} -.003367{col 83}{space 3} .0012822
{txt}{space 28} {c |}
{space 10}DebtService_PerGDP {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.8153594{col 42}{space 2} 1.204547{col 53}{space 1}   -0.68{col 62}{space 3}0.499{col 70}{space 4}-3.180572{col 83}{space 3} 1.549853
{txt}{space 28} {c |}
{space 4}Inflation_annGDPdeflator {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0095899{col 42}{space 2} .0070103{col 53}{space 1}    1.37{col 62}{space 3}0.172{col 70}{space 4}-.0041753{col 83}{space 3}  .023355
{txt}{space 28} {c |}
{space 6}PegBandManaged_NoUnion {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .1941724{col 42}{space 2} .1644169{col 53}{space 1}    1.18{col 62}{space 3}0.238{col 70}{space 4}-.1286717{col 83}{space 3} .5170165
{txt}{space 28} {c |}
{space 16}lvaw_garriga {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} -.488211{col 42}{space 2}  .559708{col 53}{space 1}   -0.87{col 62}{space 3}0.383{col 70}{space 4}-1.587237{col 83}{space 3} .6108151
{txt}{space 28} {c |}
{space 16}Taxes_PerGDP {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} 4.473014{col 42}{space 2} 2.295191{col 53}{space 1}    1.95{col 62}{space 3}0.052{col 70}{space 4}-.0337539{col 83}{space 3} 8.979783
{txt}{space 28} {c |}
{space 20}BestCRtg {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0581573{col 42}{space 2} .0291574{col 53}{space 1}    1.99{col 62}{space 3}0.046{col 70}{space 4} .0009047{col 83}{space 3}   .11541
{txt}{space 28} {c |}
{space 24}cyrs {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0117464{col 42}{space 2} .0127834{col 53}{space 1}    0.92{col 62}{space 3}0.358{col 70}{space 4}-.0133546{col 83}{space 3} .0368475
{txt}{space 28} {c |}
{space 24}dyrs {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0169229{col 42}{space 2} .0111969{col 53}{space 1}   -1.51{col 62}{space 3}0.131{col 70}{space 4}-.0389088{col 83}{space 3}  .005063
{txt}{space 28} {c |}
{space 15}v2x_polyarchy {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .1435141{col 42}{space 2} .8901448{col 53}{space 1}    0.16{col 62}{space 3}0.872{col 70}{space 4}-1.604348{col 83}{space 3} 1.891376
{txt}{space 28} {c |}
{space 21}LeftGov {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0623959{col 42}{space 2} .1189011{col 53}{space 1}   -0.52{col 62}{space 3}0.600{col 70}{space 4}-.2958666{col 83}{space 3} .1710748
{txt}{space 28} {c |}
{space 17}country_num {c |}
{space 24}ARG  {c |}{col 30}{res}{space 2}-1.320945{col 42}{space 2} .6664768{col 53}{space 1}   -1.98{col 62}{space 3}0.048{col 70}{space 4}-2.629619{col 83}{space 3}-.0122714
{txt}{space 24}ARM  {c |}{col 30}{res}{space 2} .0185822{col 42}{space 2} .2922112{col 53}{space 1}    0.06{col 62}{space 3}0.949{col 70}{space 4} -.555195{col 83}{space 3} .5923595
{txt}{space 24}BGD  {c |}{col 30}{res}{space 2} .1323417{col 42}{space 2} .4835202{col 53}{space 1}    0.27{col 62}{space 3}0.784{col 70}{space 4}-.8170842{col 83}{space 3} 1.081768
{txt}{space 24}BGR  {c |}{col 30}{res}{space 2} .0768077{col 42}{space 2} .4054184{col 53}{space 1}    0.19{col 62}{space 3}0.850{col 70}{space 4}-.7192599{col 83}{space 3} .8728753
{txt}{space 24}BIH  {c |}{col 30}{res}{space 2} .1857789{col 42}{space 2} .3289094{col 53}{space 1}    0.56{col 62}{space 3}0.572{col 70}{space 4}-.4600577{col 83}{space 3} .8316156
{txt}{space 24}BRA  {c |}{col 30}{res}{space 2}-.4654026{col 42}{space 2} .7757465{col 53}{space 1}   -0.60{col 62}{space 3}0.549{col 70}{space 4}-1.988635{col 83}{space 3}  1.05783
{txt}{space 24}BWA  {c |}{col 30}{res}{space 2}-.9077099{col 42}{space 2} .7590275{col 53}{space 1}   -1.20{col 62}{space 3}0.232{col 70}{space 4}-2.398114{col 83}{space 3}  .582694
{txt}{space 24}DOM  {c |}{col 30}{res}{space 2}  .136232{col 42}{space 2} .3224884{col 53}{space 1}    0.42{col 62}{space 3}0.673{col 70}{space 4}-.4969965{col 83}{space 3} .7694606
{txt}{space 24}ECU  {c |}{col 30}{res}{space 2}-.0046197{col 42}{space 2} .3879331{col 53}{space 1}   -0.01{col 62}{space 3}0.991{col 70}{space 4}-.7663537{col 83}{space 3} .7571143
{txt}{space 24}GEO  {c |}{col 30}{res}{space 2} .0892485{col 42}{space 2} .2946641{col 53}{space 1}    0.30{col 62}{space 3}0.762{col 70}{space 4}-.4893451{col 83}{space 3} .6678421
{txt}{space 24}GHA  {c |}{col 30}{res}{space 2} .4633108{col 42}{space 2} .5208857{col 53}{space 1}    0.89{col 62}{space 3}0.374{col 70}{space 4} -.559485{col 83}{space 3} 1.486107
{txt}{space 24}GMB  {c |}{col 30}{res}{space 2}  1.21343{col 42}{space 2} .5976503{col 53}{space 1}    2.03{col 62}{space 3}0.043{col 70}{space 4} .0399014{col 83}{space 3} 2.386958
{txt}{space 24}GTM  {c |}{col 30}{res}{space 2} .8152161{col 42}{space 2} .3301581{col 53}{space 1}    2.47{col 62}{space 3}0.014{col 70}{space 4} .1669275{col 83}{space 3} 1.463505
{txt}{space 24}HND  {c |}{col 30}{res}{space 2}-.1696984{col 42}{space 2} .2853213{col 53}{space 1}   -0.59{col 62}{space 3}0.552{col 70}{space 4}-.7299468{col 83}{space 3}   .39055
{txt}{space 24}HTI  {c |}{col 30}{res}{space 2} .6742879{col 42}{space 2} .6236151{col 53}{space 1}    1.08{col 62}{space 3}0.280{col 70}{space 4}-.5502241{col 83}{space 3}   1.8988
{txt}{space 24}IDN  {c |}{col 30}{res}{space 2} .5122017{col 42}{space 2} .4402413{col 53}{space 1}    1.16{col 62}{space 3}0.245{col 70}{space 4}-.3522431{col 83}{space 3} 1.376646
{txt}{space 24}IND  {c |}{col 30}{res}{space 2} .5300232{col 42}{space 2} .6651938{col 53}{space 1}    0.80{col 62}{space 3}0.426{col 70}{space 4}-.7761317{col 83}{space 3} 1.836178
{txt}{space 24}JAM  {c |}{col 30}{res}{space 2}-.3433149{col 42}{space 2} .4883149{col 53}{space 1}   -0.70{col 62}{space 3}0.482{col 70}{space 4}-1.302155{col 83}{space 3} .6155257
{txt}{space 24}KEN  {c |}{col 30}{res}{space 2} .3301406{col 42}{space 2} .3328836{col 53}{space 1}    0.99{col 62}{space 3}0.322{col 70}{space 4}-.3234999{col 83}{space 3}  .983781
{txt}{space 24}KGZ  {c |}{col 30}{res}{space 2} .0916283{col 42}{space 2}  .357707{col 53}{space 1}    0.26{col 62}{space 3}0.798{col 70}{space 4}-.6107545{col 83}{space 3} .7940112
{txt}{space 24}LBN  {c |}{col 30}{res}{space 2} .4617195{col 42}{space 2} .6038743{col 53}{space 1}    0.76{col 62}{space 3}0.445{col 70}{space 4}-.7240302{col 83}{space 3} 1.647469
{txt}{space 24}LBR  {c |}{col 30}{res}{space 2} .8048534{col 42}{space 2} .6060902{col 53}{space 1}    1.33{col 62}{space 3}0.185{col 70}{space 4}-.3852473{col 83}{space 3} 1.994954
{txt}{space 24}LKA  {c |}{col 30}{res}{space 2} .0197748{col 42}{space 2} .3891159{col 53}{space 1}    0.05{col 62}{space 3}0.959{col 70}{space 4}-.7442816{col 83}{space 3} .7838313
{txt}{space 24}LSO  {c |}{col 30}{res}{space 2}-.7039974{col 42}{space 2}  .699874{col 53}{space 1}   -1.01{col 62}{space 3}0.315{col 70}{space 4}-2.078249{col 83}{space 3} .6702544
{txt}{space 24}MDA  {c |}{col 30}{res}{space 2} .0654893{col 42}{space 2} .2548351{col 53}{space 1}    0.26{col 62}{space 3}0.797{col 70}{space 4}-.4348973{col 83}{space 3} .5658758
{txt}{space 24}MDG  {c |}{col 30}{res}{space 2} .4860469{col 42}{space 2} .4312325{col 53}{space 1}    1.13{col 62}{space 3}0.260{col 70}{space 4}-.3607085{col 83}{space 3} 1.332802
{txt}{space 24}MEX  {c |}{col 30}{res}{space 2}-.1028197{col 42}{space 2} .5380066{col 53}{space 1}   -0.19{col 62}{space 3}0.848{col 70}{space 4}-1.159233{col 83}{space 3} .9535941
{txt}{space 24}MNG  {c |}{col 30}{res}{space 2}  .097518{col 42}{space 2} .4926476{col 53}{space 1}    0.20{col 62}{space 3}0.843{col 70}{space 4}-.8698301{col 83}{space 3} 1.064866
{txt}{space 24}MOZ  {c |}{col 30}{res}{space 2} .2915617{col 42}{space 2} .5776866{col 53}{space 1}    0.50{col 62}{space 3}0.614{col 70}{space 4}-.8427666{col 83}{space 3}  1.42589
{txt}{space 24}MRT  {c |}{col 30}{res}{space 2} 1.330427{col 42}{space 2} .5787291{col 53}{space 1}    2.30{col 62}{space 3}0.022{col 70}{space 4} .1940513{col 83}{space 3} 2.466802
{txt}{space 24}MUS  {c |}{col 30}{res}{space 2}-.3337835{col 42}{space 2}  .558906{col 53}{space 1}   -0.60{col 62}{space 3}0.551{col 70}{space 4}-1.431235{col 83}{space 3} .7636678
{txt}{space 24}MWI  {c |}{col 30}{res}{space 2} .1312354{col 42}{space 2} .4412786{col 53}{space 1}    0.30{col 62}{space 3}0.766{col 70}{space 4} -.735246{col 83}{space 3} .9977169
{txt}{space 24}NIC  {c |}{col 30}{res}{space 2} .5381935{col 42}{space 2} .3340479{col 53}{space 1}    1.61{col 62}{space 3}0.108{col 70}{space 4} -.117733{col 83}{space 3}  1.19412
{txt}{space 24}NPL  {c |}{col 30}{res}{space 2} .1386394{col 42}{space 2} .7636296{col 53}{space 1}    0.18{col 62}{space 3}0.856{col 70}{space 4}-1.360801{col 83}{space 3}  1.63808
{txt}{space 24}PAK  {c |}{col 30}{res}{space 2} .0242951{col 42}{space 2} .6156151{col 53}{space 1}    0.04{col 62}{space 3}0.969{col 70}{space 4}-1.184509{col 83}{space 3} 1.233099
{txt}{space 24}PAN  {c |}{col 30}{res}{space 2}-.7050017{col 42}{space 2}  .744148{col 53}{space 1}   -0.95{col 62}{space 3}0.344{col 70}{space 4}-2.166189{col 83}{space 3} .7561853
{txt}{space 24}PER  {c |}{col 30}{res}{space 2}  .322581{col 42}{space 2} .4976671{col 53}{space 1}    0.65{col 62}{space 3}0.517{col 70}{space 4}-.6546234{col 83}{space 3} 1.299785
{txt}{space 24}PHL  {c |}{col 30}{res}{space 2} .5871142{col 42}{space 2} .4109287{col 53}{space 1}    1.43{col 62}{space 3}0.154{col 70}{space 4}-.2197732{col 83}{space 3} 1.394002
{txt}{space 24}PNG  {c |}{col 30}{res}{space 2} .4474751{col 42}{space 2} .5475742{col 53}{space 1}    0.82{col 62}{space 3}0.414{col 70}{space 4}-.6277254{col 83}{space 3} 1.522676
{txt}{space 24}PRY  {c |}{col 30}{res}{space 2} .3556158{col 42}{space 2} .4013054{col 53}{space 1}    0.89{col 62}{space 3}0.376{col 70}{space 4}-.4323756{col 83}{space 3} 1.143607
{txt}{space 24}ROU  {c |}{col 30}{res}{space 2}-.1854325{col 42}{space 2} .4302763{col 53}{space 1}   -0.43{col 62}{space 3}0.667{col 70}{space 4} -1.03031{col 83}{space 3} .6594453
{txt}{space 24}SLE  {c |}{col 30}{res}{space 2} .6888277{col 42}{space 2}  .482467{col 53}{space 1}    1.43{col 62}{space 3}0.154{col 70}{space 4}-.2585302{col 83}{space 3} 1.636186
{txt}{space 24}SLV  {c |}{col 30}{res}{space 2} .2681109{col 42}{space 2} .2912103{col 53}{space 1}    0.92{col 62}{space 3}0.358{col 70}{space 4}-.3037009{col 83}{space 3} .8399228
{txt}{space 24}THA  {c |}{col 30}{res}{space 2}-.5343106{col 42}{space 2} .5285676{col 53}{space 1}   -1.01{col 62}{space 3}0.312{col 70}{space 4} -1.57219{col 83}{space 3} .5035689
{txt}{space 24}TLS  {c |}{col 30}{res}{space 2} 2.272275{col 42}{space 2} 1.985825{col 53}{space 1}    1.14{col 62}{space 3}0.253{col 70}{space 4}-1.627032{col 83}{space 3} 6.171581
{txt}{space 24}TUN  {c |}{col 30}{res}{space 2}-.1371667{col 42}{space 2} .6436084{col 53}{space 1}   -0.21{col 62}{space 3}0.831{col 70}{space 4}-1.400937{col 83}{space 3} 1.126604
{txt}{space 24}TUR  {c |}{col 30}{res}{space 2}-.5374558{col 42}{space 2} .4880188{col 53}{space 1}   -1.10{col 62}{space 3}0.271{col 70}{space 4}-1.495715{col 83}{space 3} .4208034
{txt}{space 24}TZA  {c |}{col 30}{res}{space 2} .2537219{col 42}{space 2} .4699301{col 53}{space 1}    0.54{col 62}{space 3}0.589{col 70}{space 4}-.6690189{col 83}{space 3} 1.176463
{txt}{space 24}UKR  {c |}{col 30}{res}{space 2}-.2668461{col 42}{space 2} .4417532{col 53}{space 1}   -0.60{col 62}{space 3}0.546{col 70}{space 4} -1.13426{col 83}{space 3} .6005675
{txt}{space 24}ZAF  {c |}{col 30}{res}{space 2}-.2316713{col 42}{space 2} .5665545{col 53}{space 1}   -0.41{col 62}{space 3}0.683{col 70}{space 4}-1.344141{col 83}{space 3} .8807984
{txt}{space 24}ZMB  {c |}{col 30}{res}{space 2} .1761548{col 42}{space 2} .5281563{col 53}{space 1}    0.33{col 62}{space 3}0.739{col 70}{space 4}-.8609172{col 83}{space 3} 1.213227
{txt}{space 28} {c |}
{space 24}year {c |}{col 30}{res}{space 2}    .1248{col 42}{space 2} .0549406{col 53}{space 1}    2.27{col 62}{space 3}0.023{col 70}{space 4} .0169203{col 83}{space 3} .2326798
{txt}{space 9}GlobalReserveLevels {c |}{col 30}{res}{space 2} 2.04e-11{col 42}{space 2} 8.36e-12{col 53}{space 1}    2.43{col 62}{space 3}0.015{col 70}{space 4} 3.94e-12{col 83}{space 3} 3.68e-11
{txt}{space 28} {c |}
c.year#c.GlobalReserveLevels {c |}{col 30}{res}{space 2}-1.02e-14{col 42}{space 2} 4.18e-15{col 53}{space 1}   -2.45{col 62}{space 3}0.015{col 70}{space 4}-1.84e-14{col 83}{space 3}-2.02e-15
{txt}{space 28} {c |}
{space 23}_cons {c |}{col 30}{res}{space 2}-250.0236{col 42}{space 2} 109.8866{col 53}{space 1}   -2.28{col 62}{space 3}0.023{col 70}{space 4}-465.7937{col 83}{space 3}-34.25349
{txt}{hline 29}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store c1
{txt}
{com}. 
. regress deltaReserves_Imports c.ElectionPeriod##c.US10YrYields_AnnAvg ElectionYear l.deltaReserves_Imports l.GDPpcap l.GDPgrowth l.ny_gdp_totl_rt_zs l.CurrAcctBal_PerGDP l.ExtDebtStocks_PerGNI l.DebtService_PerGDP l.Inflation_annGDPdeflator l.PegBandManaged_NoUnion l.lvaw_garriga l.Taxes_PerGDP l.BestCRtg l.cyrs l.dyrs l.v2x_polyarchy l.Left i.country_num c.year##c.GlobalReserveLevels , robust

{txt}Linear regression                               Number of obs     = {res}       733
                                                {txt}{help j_robustsingular:F(72, 658) }       =  {res}        .
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.1040
                                                {txt}Root MSE          =    {res} 1.0581

{txt}{hline 39}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 40}{c |}{col 52}    Robust
{col 1}                 deltaReserves_Imports{col 40}{c |}      Coef.{col 52}   Std. Err.{col 64}      t{col 72}   P>|t|{col 80}     [95% Con{col 93}f. Interval]
{hline 39}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 24}ElectionPeriod {c |}{col 40}{res}{space 2} .3532182{col 52}{space 2} .2308312{col 63}{space 1}    1.53{col 72}{space 3}0.126{col 80}{space 4}-.1000364{col 93}{space 3} .8064728
{txt}{space 19}US10YrYields_AnnAvg {c |}{col 40}{res}{space 2} -.190261{col 52}{space 2} .0914901{col 63}{space 1}   -2.08{col 72}{space 3}0.038{col 80}{space 4}-.3699087{col 93}{space 3}-.0106133
{txt}{space 38} {c |}
c.ElectionPeriod#c.US10YrYields_AnnAvg {c |}{col 40}{res}{space 2}-.1760558{col 52}{space 2}  .069562{col 63}{space 1}   -2.53{col 72}{space 3}0.012{col 80}{space 4}-.3126461{col 93}{space 3}-.0394655
{txt}{space 38} {c |}
{space 26}ElectionYear {c |}{col 40}{res}{space 2} .1711708{col 52}{space 2} .1260996{col 63}{space 1}    1.36{col 72}{space 3}0.175{col 80}{space 4}-.0764354{col 93}{space 3}  .418777
{txt}{space 38} {c |}
{space 17}deltaReserves_Imports {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.1674961{col 52}{space 2} .0559822{col 63}{space 1}   -2.99{col 72}{space 3}0.003{col 80}{space 4}-.2774213{col 93}{space 3}-.0575709
{txt}{space 38} {c |}
{space 31}GDPpcap {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0001137{col 52}{space 2} .0000567{col 63}{space 1}    2.00{col 72}{space 3}0.045{col 80}{space 4} 2.31e-06{col 93}{space 3} .0002252
{txt}{space 38} {c |}
{space 29}GDPgrowth {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0045998{col 52}{space 2} .0167176{col 63}{space 1}    0.28{col 72}{space 3}0.783{col 80}{space 4}-.0282265{col 93}{space 3} .0374261
{txt}{space 38} {c |}
{space 21}ny_gdp_totl_rt_zs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0100933{col 52}{space 2} .0204254{col 63}{space 1}   -0.49{col 72}{space 3}0.621{col 80}{space 4}-.0502001{col 93}{space 3} .0300134
{txt}{space 38} {c |}
{space 20}CurrAcctBal_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}  .002298{col 52}{space 2} .0078924{col 63}{space 1}    0.29{col 72}{space 3}0.771{col 80}{space 4}-.0131993{col 93}{space 3} .0177952
{txt}{space 38} {c |}
{space 18}ExtDebtStocks_PerGNI {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0010948{col 52}{space 2} .0011622{col 63}{space 1}   -0.94{col 72}{space 3}0.347{col 80}{space 4}-.0033768{col 93}{space 3} .0011872
{txt}{space 38} {c |}
{space 20}DebtService_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.8415795{col 52}{space 2} 1.167678{col 63}{space 1}   -0.72{col 72}{space 3}0.471{col 80}{space 4}-3.134403{col 93}{space 3} 1.451244
{txt}{space 38} {c |}
{space 14}Inflation_annGDPdeflator {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}  .010331{col 52}{space 2} .0069368{col 63}{space 1}    1.49{col 72}{space 3}0.137{col 80}{space 4}-.0032899{col 93}{space 3} .0239519
{txt}{space 38} {c |}
{space 16}PegBandManaged_NoUnion {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .1876302{col 52}{space 2} .1640779{col 63}{space 1}    1.14{col 72}{space 3}0.253{col 80}{space 4}-.1345492{col 93}{space 3} .5098097
{txt}{space 38} {c |}
{space 26}lvaw_garriga {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} -.295431{col 52}{space 2} .5462424{col 63}{space 1}   -0.54{col 72}{space 3}0.589{col 80}{space 4}-1.368019{col 93}{space 3} .7771573
{txt}{space 38} {c |}
{space 26}Taxes_PerGDP {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}   4.4843{col 52}{space 2} 2.300729{col 63}{space 1}    1.95{col 72}{space 3}0.052{col 80}{space 4}-.0333554{col 93}{space 3} 9.001956
{txt}{space 38} {c |}
{space 30}BestCRtg {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0586474{col 52}{space 2} .0295692{col 63}{space 1}    1.98{col 72}{space 3}0.048{col 80}{space 4} .0005861{col 93}{space 3} .1167087
{txt}{space 38} {c |}
{space 34}cyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .0120802{col 52}{space 2} .0130979{col 63}{space 1}    0.92{col 72}{space 3}0.357{col 80}{space 4}-.0136385{col 93}{space 3} .0377988
{txt}{space 38} {c |}
{space 34}dyrs {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0172987{col 52}{space 2} .0110987{col 63}{space 1}   -1.56{col 72}{space 3}0.120{col 80}{space 4}-.0390918{col 93}{space 3} .0044943
{txt}{space 38} {c |}
{space 25}v2x_polyarchy {c |}
{space 35}L1. {c |}{col 40}{res}{space 2} .2377549{col 52}{space 2} .8962431{col 63}{space 1}    0.27{col 72}{space 3}0.791{col 80}{space 4}-1.522086{col 93}{space 3} 1.997596
{txt}{space 38} {c |}
{space 31}LeftGov {c |}
{space 35}L1. {c |}{col 40}{res}{space 2}-.0693918{col 52}{space 2} .1193735{col 63}{space 1}   -0.58{col 72}{space 3}0.561{col 80}{space 4}-.3037907{col 93}{space 3} .1650071
{txt}{space 38} {c |}
{space 27}country_num {c |}
{space 34}ARG  {c |}{col 40}{res}{space 2}-1.354991{col 52}{space 2} .6699393{col 63}{space 1}   -2.02{col 72}{space 3}0.044{col 80}{space 4}-2.670468{col 93}{space 3}-.0395146
{txt}{space 34}ARM  {c |}{col 40}{res}{space 2}-.0784321{col 52}{space 2} .2936301{col 63}{space 1}   -0.27{col 72}{space 3}0.789{col 80}{space 4} -.654997{col 93}{space 3} .4981327
{txt}{space 34}BGD  {c |}{col 40}{res}{space 2} .2600731{col 52}{space 2} .4824309{col 63}{space 1}    0.54{col 72}{space 3}0.590{col 80}{space 4}-.6872165{col 93}{space 3} 1.207363
{txt}{space 34}BGR  {c |}{col 40}{res}{space 2} .0515853{col 52}{space 2} .4009502{col 63}{space 1}    0.13{col 72}{space 3}0.898{col 80}{space 4}-.7357107{col 93}{space 3} .8388813
{txt}{space 34}BIH  {c |}{col 40}{res}{space 2} .1389522{col 52}{space 2} .3251717{col 63}{space 1}    0.43{col 72}{space 3}0.669{col 80}{space 4} -.499547{col 93}{space 3} .7774514
{txt}{space 34}BRA  {c |}{col 40}{res}{space 2}-.3639652{col 52}{space 2} .7798286{col 63}{space 1}   -0.47{col 72}{space 3}0.641{col 80}{space 4}-1.895218{col 93}{space 3} 1.167287
{txt}{space 34}BWA  {c |}{col 40}{res}{space 2}-.8878768{col 52}{space 2} .7563152{col 63}{space 1}   -1.17{col 72}{space 3}0.241{col 80}{space 4}-2.372959{col 93}{space 3} .5972054
{txt}{space 34}DOM  {c |}{col 40}{res}{space 2} .1246337{col 52}{space 2} .3210801{col 63}{space 1}    0.39{col 72}{space 3}0.698{col 80}{space 4}-.5058314{col 93}{space 3} .7550988
{txt}{space 34}ECU  {c |}{col 40}{res}{space 2} .0329895{col 52}{space 2} .3864828{col 63}{space 1}    0.09{col 72}{space 3}0.932{col 80}{space 4}-.7258987{col 93}{space 3} .7918778
{txt}{space 34}GEO  {c |}{col 40}{res}{space 2} .0795762{col 52}{space 2} .2956228{col 63}{space 1}    0.27{col 72}{space 3}0.788{col 80}{space 4}-.5009016{col 93}{space 3}  .660054
{txt}{space 34}GHA  {c |}{col 40}{res}{space 2} .4811995{col 52}{space 2} .5218605{col 63}{space 1}    0.92{col 72}{space 3}0.357{col 80}{space 4}-.5435131{col 93}{space 3} 1.505912
{txt}{space 34}GMB  {c |}{col 40}{res}{space 2} 1.320579{col 52}{space 2} .6078018{col 63}{space 1}    2.17{col 72}{space 3}0.030{col 80}{space 4} .1271144{col 93}{space 3} 2.514044
{txt}{space 34}GTM  {c |}{col 40}{res}{space 2} .8234581{col 52}{space 2} .3289092{col 63}{space 1}    2.50{col 72}{space 3}0.013{col 80}{space 4}   .17762{col 93}{space 3} 1.469296
{txt}{space 34}HND  {c |}{col 40}{res}{space 2}-.1507113{col 52}{space 2} .2940689{col 63}{space 1}   -0.51{col 72}{space 3}0.608{col 80}{space 4}-.7281378{col 93}{space 3} .4267153
{txt}{space 34}HTI  {c |}{col 40}{res}{space 2} .7703242{col 52}{space 2} .6159657{col 63}{space 1}    1.25{col 72}{space 3}0.212{col 80}{space 4}-.4391711{col 93}{space 3}  1.97982
{txt}{space 34}IDN  {c |}{col 40}{res}{space 2} .4791679{col 52}{space 2} .4373419{col 63}{space 1}    1.10{col 72}{space 3}0.274{col 80}{space 4}-.3795861{col 93}{space 3} 1.337922
{txt}{space 34}IND  {c |}{col 40}{res}{space 2} .6186074{col 52}{space 2} .6628583{col 63}{space 1}    0.93{col 72}{space 3}0.351{col 80}{space 4}-.6829652{col 93}{space 3}  1.92018
{txt}{space 34}JAM  {c |}{col 40}{res}{space 2}-.2575565{col 52}{space 2} .4877334{col 63}{space 1}   -0.53{col 72}{space 3}0.598{col 80}{space 4}-1.215258{col 93}{space 3} .7001449
{txt}{space 34}KEN  {c |}{col 40}{res}{space 2} .3874389{col 52}{space 2} .3415419{col 63}{space 1}    1.13{col 72}{space 3}0.257{col 80}{space 4}-.2832044{col 93}{space 3} 1.058082
{txt}{space 34}KGZ  {c |}{col 40}{res}{space 2} .1683404{col 52}{space 2} .3536148{col 63}{space 1}    0.48{col 72}{space 3}0.634{col 80}{space 4} -.526009{col 93}{space 3} .8626898
{txt}{space 34}LBN  {c |}{col 40}{res}{space 2} .5484843{col 52}{space 2} .5942178{col 63}{space 1}    0.92{col 72}{space 3}0.356{col 80}{space 4}-.6183074{col 93}{space 3} 1.715276
{txt}{space 34}LBR  {c |}{col 40}{res}{space 2} .8797181{col 52}{space 2} .6016301{col 63}{space 1}    1.46{col 72}{space 3}0.144{col 80}{space 4}-.3016282{col 93}{space 3} 2.061064
{txt}{space 34}LKA  {c |}{col 40}{res}{space 2} .0506829{col 52}{space 2} .3849645{col 63}{space 1}    0.13{col 72}{space 3}0.895{col 80}{space 4} -.705224{col 93}{space 3} .8065899
{txt}{space 34}LSO  {c |}{col 40}{res}{space 2}-.6433187{col 52}{space 2} .7053066{col 63}{space 1}   -0.91{col 72}{space 3}0.362{col 80}{space 4}-2.028242{col 93}{space 3} .7416042
{txt}{space 34}MDA  {c |}{col 40}{res}{space 2} .0538138{col 52}{space 2} .2511995{col 63}{space 1}    0.21{col 72}{space 3}0.830{col 80}{space 4}-.4394355{col 93}{space 3} .5470631
{txt}{space 34}MDG  {c |}{col 40}{res}{space 2} .5354329{col 52}{space 2} .4360152{col 63}{space 1}    1.23{col 72}{space 3}0.220{col 80}{space 4} -.320716{col 93}{space 3} 1.391582
{txt}{space 34}MEX  {c |}{col 40}{res}{space 2}-.0937596{col 52}{space 2} .5350916{col 63}{space 1}   -0.18{col 72}{space 3}0.861{col 80}{space 4}-1.144453{col 93}{space 3} .9569334
{txt}{space 34}MNG  {c |}{col 40}{res}{space 2} .1420669{col 52}{space 2} .4907744{col 63}{space 1}    0.29{col 72}{space 3}0.772{col 80}{space 4}-.8216058{col 93}{space 3}  1.10574
{txt}{space 34}MOZ  {c |}{col 40}{res}{space 2} .4418662{col 52}{space 2} .5707023{col 63}{space 1}    0.77{col 72}{space 3}0.439{col 80}{space 4}-.6787511{col 93}{space 3} 1.562483
{txt}{space 34}MRT  {c |}{col 40}{res}{space 2} 1.473751{col 52}{space 2} .5851546{col 63}{space 1}    2.52{col 72}{space 3}0.012{col 80}{space 4}  .324756{col 93}{space 3} 2.622747
{txt}{space 34}MUS  {c |}{col 40}{res}{space 2}-.3181927{col 52}{space 2} .5541791{col 63}{space 1}   -0.57{col 72}{space 3}0.566{col 80}{space 4}-1.406365{col 93}{space 3} .7699799
{txt}{space 34}MWI  {c |}{col 40}{res}{space 2} .2035375{col 52}{space 2} .4411313{col 63}{space 1}    0.46{col 72}{space 3}0.645{col 80}{space 4}-.6626573{col 93}{space 3} 1.069732
{txt}{space 34}NIC  {c |}{col 40}{res}{space 2} .5671133{col 52}{space 2} .3301188{col 63}{space 1}    1.72{col 72}{space 3}0.086{col 80}{space 4}-.0811001{col 93}{space 3} 1.215327
{txt}{space 34}NPL  {c |}{col 40}{res}{space 2} .0826705{col 52}{space 2} .7596982{col 63}{space 1}    0.11{col 72}{space 3}0.913{col 80}{space 4}-1.409055{col 93}{space 3} 1.574396
{txt}{space 34}PAK  {c |}{col 40}{res}{space 2} .0941356{col 52}{space 2} .6369237{col 63}{space 1}    0.15{col 72}{space 3}0.883{col 80}{space 4}-1.156512{col 93}{space 3} 1.344784
{txt}{space 34}PAN  {c |}{col 40}{res}{space 2}  -.64741{col 52}{space 2}  .735975{col 63}{space 1}   -0.88{col 72}{space 3}0.379{col 80}{space 4}-2.092553{col 93}{space 3} .7977326
{txt}{space 34}PER  {c |}{col 40}{res}{space 2}  .302035{col 52}{space 2} .4966755{col 63}{space 1}    0.61{col 72}{space 3}0.543{col 80}{space 4}-.6732249{col 93}{space 3} 1.277295
{txt}{space 34}PHL  {c |}{col 40}{res}{space 2} .6108347{col 52}{space 2} .4103739{col 63}{space 1}    1.49{col 72}{space 3}0.137{col 80}{space 4}-.1949657{col 93}{space 3} 1.416635
{txt}{space 34}PNG  {c |}{col 40}{res}{space 2} .5288272{col 52}{space 2} .5471787{col 63}{space 1}    0.97{col 72}{space 3}0.334{col 80}{space 4}-.5455998{col 93}{space 3} 1.603254
{txt}{space 34}PRY  {c |}{col 40}{res}{space 2} .3855578{col 52}{space 2} .4025281{col 63}{space 1}    0.96{col 72}{space 3}0.338{col 80}{space 4}-.4048365{col 93}{space 3} 1.175952
{txt}{space 34}ROU  {c |}{col 40}{res}{space 2}-.2224566{col 52}{space 2}  .428521{col 63}{space 1}   -0.52{col 72}{space 3}0.604{col 80}{space 4} -1.06389{col 93}{space 3} .6189768
{txt}{space 34}SLE  {c |}{col 40}{res}{space 2} .7149609{col 52}{space 2} .4826211{col 63}{space 1}    1.48{col 72}{space 3}0.139{col 80}{space 4}-.2327022{col 93}{space 3} 1.662624
{txt}{space 34}SLV  {c |}{col 40}{res}{space 2} .2601274{col 52}{space 2} .2931767{col 63}{space 1}    0.89{col 72}{space 3}0.375{col 80}{space 4}-.3155472{col 93}{space 3}  .835802
{txt}{space 34}THA  {c |}{col 40}{res}{space 2} -.405958{col 52}{space 2} .5249723{col 63}{space 1}   -0.77{col 72}{space 3}0.440{col 80}{space 4}-1.436781{col 93}{space 3} .6248649
{txt}{space 34}TLS  {c |}{col 40}{res}{space 2} 2.229855{col 52}{space 2} 1.987097{col 63}{space 1}    1.12{col 72}{space 3}0.262{col 80}{space 4}-1.671961{col 93}{space 3} 6.131671
{txt}{space 34}TUN  {c |}{col 40}{res}{space 2}-.1455003{col 52}{space 2} .6433501{col 63}{space 1}   -0.23{col 72}{space 3}0.821{col 80}{space 4}-1.408767{col 93}{space 3} 1.117766
{txt}{space 34}TUR  {c |}{col 40}{res}{space 2}-.5858453{col 52}{space 2} .4898455{col 63}{space 1}   -1.20{col 72}{space 3}0.232{col 80}{space 4}-1.547694{col 93}{space 3} .3760033
{txt}{space 34}TZA  {c |}{col 40}{res}{space 2} .2923661{col 52}{space 2} .4653716{col 63}{space 1}    0.63{col 72}{space 3}0.530{col 80}{space 4}-.6214263{col 93}{space 3} 1.206158
{txt}{space 34}UKR  {c |}{col 40}{res}{space 2}-.2882062{col 52}{space 2} .4340458{col 63}{space 1}   -0.66{col 72}{space 3}0.507{col 80}{space 4}-1.140488{col 93}{space 3} .5640756
{txt}{space 34}ZAF  {c |}{col 40}{res}{space 2}-.1718685{col 52}{space 2} .5695023{col 63}{space 1}   -0.30{col 72}{space 3}0.763{col 80}{space 4}-1.290129{col 93}{space 3} .9463925
{txt}{space 34}ZMB  {c |}{col 40}{res}{space 2} .2748854{col 52}{space 2} .5281801{col 63}{space 1}    0.52{col 72}{space 3}0.603{col 80}{space 4}-.7622362{col 93}{space 3} 1.312007
{txt}{space 38} {c |}
{space 34}year {c |}{col 40}{res}{space 2} .1340507{col 52}{space 2} .0556471{col 63}{space 1}    2.41{col 72}{space 3}0.016{col 80}{space 4} .0247835{col 93}{space 3}  .243318
{txt}{space 19}GlobalReserveLevels {c |}{col 40}{res}{space 2} 2.19e-11{col 52}{space 2} 8.44e-12{col 63}{space 1}    2.60{col 72}{space 3}0.010{col 80}{space 4} 5.36e-12{col 93}{space 3} 3.85e-11
{txt}{space 38} {c |}
{space 10}c.year#c.GlobalReserveLevels {c |}{col 40}{res}{space 2}-1.10e-14{col 52}{space 2} 4.22e-15{col 63}{space 1}   -2.61{col 72}{space 3}0.009{col 80}{space 4}-1.93e-14{col 93}{space 3}-2.74e-15
{txt}{space 38} {c |}
{space 33}_cons {c |}{col 40}{res}{space 2}-268.9361{col 52}{space 2} 111.3393{col 63}{space 1}   -2.42{col 72}{space 3}0.016{col 80}{space 4}-487.5592{col 93}{space 3}-50.31309
{txt}{hline 39}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store c2
{txt}
{com}. 
. 
. estout c1 c2, cells(b(star fmt(%9.3f)) se(par fmt(%9.3f))) starlevels(* 0.1 ** 0.05 ) ///
> stats(r2 N , fmt(%9.2f %9.0f) labels("R2" ))  style(tex) ///
> legend label collabels(none) ///
> varlabels(_cons Constant  "c.ElectionPeriod#c.US10YrYields_AnnAvg" "Election*USrates" "c.year#c.GlobalReserveLevels000" "Year*GlobalReserves") ///
> keep(ElectionPeriod US10YrYields_AnnAvg c.ElectionPeriod#c.US10YrYields_AnnAvg ElectionYear)  ///
> mlabels () ///
> title("") 
{res}
                    &          c1  &          c2  \\
ElectionPeriod      &      -0.216**&       0.353  \\
                    &     (0.102)  &     (0.231)  \\
US10YrYields_AnnAvg &      -0.248**&      -0.190**\\
                    &     (0.088)  &     (0.091)  \\
ElectionYear        &       0.165  &       0.171  \\
                    &     (0.126)  &     (0.126)  \\
Election*USrates    &              &      -0.176**\\
                    &              &     (0.070)  \\
R2                  &        0.10  &        0.10  \\
N                   &         733  &         733  \\
* p<0.1, ** p<0.05
{txt}
{com}. 
. 
. 
.  ***************************************************************************************************************************************************************************
. *Section I: Election Month Robustness
. 
. *Re-drop Mexico and Turkey
. keep if oecd_1yes == 0
{txt}(39 observations deleted)

{com}. 
. gen ElectionPeriod3 = ElectionPeriod
{txt}
{com}. replace ElectionPeriod3 = 0 if monthDPI<=3
{txt}(41 real changes made)

{com}. 
. gen ElectionPeriod6 = ElectionPeriod
{txt}
{com}. replace ElectionPeriod6 = 0 if monthDPI<=6
{txt}(115 real changes made)

{com}. 
. regress deltaReserves_Imports c.ElectionPeriod3 c.US10YrYields_AnnAvg ElectionYear l.deltaReserves_Imports l.GDPpcap l.GDPgrowth l.ny_gdp_totl_rt_zs l.CurrAcctBal_PerGDP l.ExtDebtStocks_PerGNI l.DebtService_PerGDP l.Inflation_annGDPdeflator l.PegBandManaged_NoUnion l.lvaw_garriga l.Taxes_PerGDP l.BestCRtg l.cyrs l.dyrs l.v2x_polyarchy l.Left i.country_num c.year##c.GlobalReserveLevels, robust

{txt}Linear regression                               Number of obs     = {res}       700
                                                {txt}{help j_robustsingular:F(69, 628) }       =  {res}        .
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.1012
                                                {txt}Root MSE          =    {res} 1.0767

{txt}{hline 29}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 30}{c |}{col 42}    Robust
{col 1}       deltaReserves_Imports{col 30}{c |}      Coef.{col 42}   Std. Err.{col 54}      t{col 62}   P>|t|{col 70}     [95% Con{col 83}f. Interval]
{hline 29}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 13}ElectionPeriod3 {c |}{col 30}{res}{space 2}-.2421253{col 42}{space 2} .1031432{col 53}{space 1}   -2.35{col 62}{space 3}0.019{col 70}{space 4}-.4446726{col 83}{space 3} -.039578
{txt}{space 9}US10YrYields_AnnAvg {c |}{col 30}{res}{space 2}-.2475314{col 42}{space 2}  .091254{col 53}{space 1}   -2.71{col 62}{space 3}0.007{col 70}{space 4}-.4267313{col 83}{space 3}-.0683316
{txt}{space 16}ElectionYear {c |}{col 30}{res}{space 2} .1585527{col 42}{space 2} .1232186{col 53}{space 1}    1.29{col 62}{space 3}0.199{col 70}{space 4}-.0834177{col 83}{space 3} .4005231
{txt}{space 28} {c |}
{space 7}deltaReserves_Imports {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.1674359{col 42}{space 2} .0567271{col 53}{space 1}   -2.95{col 62}{space 3}0.003{col 70}{space 4}-.2788336{col 83}{space 3}-.0560381
{txt}{space 28} {c |}
{space 21}GDPpcap {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0000949{col 42}{space 2} .0000593{col 53}{space 1}    1.60{col 62}{space 3}0.110{col 70}{space 4}-.0000215{col 83}{space 3} .0002112
{txt}{space 28} {c |}
{space 19}GDPgrowth {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0046129{col 42}{space 2} .0178288{col 53}{space 1}    0.26{col 62}{space 3}0.796{col 70}{space 4}-.0303984{col 83}{space 3} .0396243
{txt}{space 28} {c |}
{space 11}ny_gdp_totl_rt_zs {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0104258{col 42}{space 2} .0206445{col 53}{space 1}   -0.51{col 62}{space 3}0.614{col 70}{space 4}-.0509664{col 83}{space 3} .0301147
{txt}{space 28} {c |}
{space 10}CurrAcctBal_PerGDP {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0016136{col 42}{space 2} .0079323{col 53}{space 1}    0.20{col 62}{space 3}0.839{col 70}{space 4}-.0139634{col 83}{space 3} .0171906
{txt}{space 28} {c |}
{space 8}ExtDebtStocks_PerGNI {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0009459{col 42}{space 2} .0011874{col 53}{space 1}   -0.80{col 62}{space 3}0.426{col 70}{space 4}-.0032776{col 83}{space 3} .0013858
{txt}{space 28} {c |}
{space 10}DebtService_PerGDP {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} -.915263{col 42}{space 2} 1.199029{col 53}{space 1}   -0.76{col 62}{space 3}0.446{col 70}{space 4}-3.269855{col 83}{space 3} 1.439329
{txt}{space 28} {c |}
{space 4}Inflation_annGDPdeflator {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0103274{col 42}{space 2} .0075925{col 53}{space 1}    1.36{col 62}{space 3}0.174{col 70}{space 4}-.0045824{col 83}{space 3} .0252372
{txt}{space 28} {c |}
{space 6}PegBandManaged_NoUnion {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .1952368{col 42}{space 2} .1652815{col 53}{space 1}    1.18{col 62}{space 3}0.238{col 70}{space 4}-.1293346{col 83}{space 3} .5198082
{txt}{space 28} {c |}
{space 16}lvaw_garriga {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.5758137{col 42}{space 2} .6145029{col 53}{space 1}   -0.94{col 62}{space 3}0.349{col 70}{space 4}-1.782543{col 83}{space 3} .6309156
{txt}{space 28} {c |}
{space 16}Taxes_PerGDP {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} 4.658929{col 42}{space 2} 2.293133{col 53}{space 1}    2.03{col 62}{space 3}0.043{col 70}{space 4} .1557921{col 83}{space 3} 9.162066
{txt}{space 28} {c |}
{space 20}BestCRtg {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0545845{col 42}{space 2} .0296981{col 53}{space 1}    1.84{col 62}{space 3}0.067{col 70}{space 4} -.003735{col 83}{space 3} .1129041
{txt}{space 28} {c |}
{space 24}cyrs {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0126456{col 42}{space 2}  .013085{col 53}{space 1}    0.97{col 62}{space 3}0.334{col 70}{space 4}-.0130501{col 83}{space 3} .0383413
{txt}{space 28} {c |}
{space 24}dyrs {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} -.019549{col 42}{space 2} .0117405{col 53}{space 1}   -1.67{col 62}{space 3}0.096{col 70}{space 4}-.0426043{col 83}{space 3} .0035063
{txt}{space 28} {c |}
{space 15}v2x_polyarchy {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}  .489681{col 42}{space 2} .9413955{col 53}{space 1}    0.52{col 62}{space 3}0.603{col 70}{space 4}-1.358983{col 83}{space 3} 2.338345
{txt}{space 28} {c |}
{space 21}LeftGov {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0508095{col 42}{space 2} .1198831{col 53}{space 1}   -0.42{col 62}{space 3}0.672{col 70}{space 4}-.2862298{col 83}{space 3} .1846108
{txt}{space 28} {c |}
{space 17}country_num {c |}
{space 24}ARG  {c |}{col 30}{res}{space 2}-1.260868{col 42}{space 2} .6765115{col 53}{space 1}   -1.86{col 62}{space 3}0.063{col 70}{space 4}-2.589366{col 83}{space 3} .0676307
{txt}{space 24}ARM  {c |}{col 30}{res}{space 2} .0406624{col 42}{space 2} .3001668{col 53}{space 1}    0.14{col 62}{space 3}0.892{col 70}{space 4}-.5487898{col 83}{space 3} .6301146
{txt}{space 24}BGD  {c |}{col 30}{res}{space 2} .0869342{col 42}{space 2}  .497053{col 53}{space 1}    0.17{col 62}{space 3}0.861{col 70}{space 4} -.889153{col 83}{space 3} 1.063021
{txt}{space 24}BGR  {c |}{col 30}{res}{space 2} .0346603{col 42}{space 2} .4075497{col 53}{space 1}    0.09{col 62}{space 3}0.932{col 70}{space 4}-.7656648{col 83}{space 3} .8349854
{txt}{space 24}BIH  {c |}{col 30}{res}{space 2} .1819648{col 42}{space 2} .3361184{col 53}{space 1}    0.54{col 62}{space 3}0.588{col 70}{space 4}-.4780873{col 83}{space 3} .8420168
{txt}{space 24}BRA  {c |}{col 30}{res}{space 2}-.5637095{col 42}{space 2} .8010985{col 53}{space 1}   -0.70{col 62}{space 3}0.482{col 70}{space 4}-2.136866{col 83}{space 3} 1.009447
{txt}{space 24}BWA  {c |}{col 30}{res}{space 2}-.9874079{col 42}{space 2} .7671307{col 53}{space 1}   -1.29{col 62}{space 3}0.199{col 70}{space 4} -2.49386{col 83}{space 3}  .519044
{txt}{space 24}DOM  {c |}{col 30}{res}{space 2} .1395105{col 42}{space 2} .3296101{col 53}{space 1}    0.42{col 62}{space 3}0.672{col 70}{space 4}-.5077609{col 83}{space 3} .7867819
{txt}{space 24}ECU  {c |}{col 30}{res}{space 2} 1.80e-07{col 42}{space 2} .3909192{col 53}{space 1}    0.00{col 62}{space 3}1.000{col 70}{space 4}-.7676669{col 83}{space 3} .7676673
{txt}{space 24}GEO  {c |}{col 30}{res}{space 2} .0350625{col 42}{space 2} .2999465{col 53}{space 1}    0.12{col 62}{space 3}0.907{col 70}{space 4}-.5539571{col 83}{space 3}  .624082
{txt}{space 24}GHA  {c |}{col 30}{res}{space 2} .3480255{col 42}{space 2} .5415465{col 53}{space 1}    0.64{col 62}{space 3}0.521{col 70}{space 4}-.7154357{col 83}{space 3} 1.411487
{txt}{space 24}GMB  {c |}{col 30}{res}{space 2} 1.154686{col 42}{space 2} .5885043{col 53}{space 1}    1.96{col 62}{space 3}0.050{col 70}{space 4}-.0009881{col 83}{space 3} 2.310361
{txt}{space 24}GTM  {c |}{col 30}{res}{space 2} .8205295{col 42}{space 2} .3325629{col 53}{space 1}    2.47{col 62}{space 3}0.014{col 70}{space 4} .1674596{col 83}{space 3} 1.473599
{txt}{space 24}HND  {c |}{col 30}{res}{space 2} -.196006{col 42}{space 2} .2892417{col 53}{space 1}   -0.68{col 62}{space 3}0.498{col 70}{space 4} -.764004{col 83}{space 3} .3719919
{txt}{space 24}HTI  {c |}{col 30}{res}{space 2} .6742261{col 42}{space 2} .6276203{col 53}{space 1}    1.07{col 62}{space 3}0.283{col 70}{space 4}-.5582623{col 83}{space 3} 1.906715
{txt}{space 24}IDN  {c |}{col 30}{res}{space 2} .4634143{col 42}{space 2} .4426497{col 53}{space 1}    1.05{col 62}{space 3}0.296{col 70}{space 4}-.4058385{col 83}{space 3} 1.332667
{txt}{space 24}IND  {c |}{col 30}{res}{space 2} .3886297{col 42}{space 2} .6942183{col 53}{space 1}    0.56{col 62}{space 3}0.576{col 70}{space 4}-.9746406{col 83}{space 3}   1.7519
{txt}{space 24}JAM  {c |}{col 30}{res}{space 2} -.449026{col 42}{space 2} .5094826{col 53}{space 1}   -0.88{col 62}{space 3}0.378{col 70}{space 4}-1.449522{col 83}{space 3} .5514697
{txt}{space 24}KEN  {c |}{col 30}{res}{space 2} .2874759{col 42}{space 2} .3439563{col 53}{space 1}    0.84{col 62}{space 3}0.404{col 70}{space 4}-.3879678{col 83}{space 3} .9629196
{txt}{space 24}KGZ  {c |}{col 30}{res}{space 2} .0491989{col 42}{space 2} .3667839{col 53}{space 1}    0.13{col 62}{space 3}0.893{col 70}{space 4}-.6710724{col 83}{space 3} .7694702
{txt}{space 24}LBN  {c |}{col 30}{res}{space 2} .5805357{col 42}{space 2} .6110682{col 53}{space 1}    0.95{col 62}{space 3}0.342{col 70}{space 4}-.6194486{col 83}{space 3}  1.78052
{txt}{space 24}LBR  {c |}{col 30}{res}{space 2} .7539813{col 42}{space 2} .6128314{col 53}{space 1}    1.23{col 62}{space 3}0.219{col 70}{space 4}-.4494655{col 83}{space 3} 1.957428
{txt}{space 24}LKA  {c |}{col 30}{res}{space 2}-.0246178{col 42}{space 2} .3972417{col 53}{space 1}   -0.06{col 62}{space 3}0.951{col 70}{space 4}-.8047007{col 83}{space 3}  .755465
{txt}{space 24}LSO  {c |}{col 30}{res}{space 2}-.8381793{col 42}{space 2} .7086592{col 53}{space 1}   -1.18{col 62}{space 3}0.237{col 70}{space 4}-2.229808{col 83}{space 3} .5534492
{txt}{space 24}MDA  {c |}{col 30}{res}{space 2} .0075399{col 42}{space 2} .2607387{col 53}{space 1}    0.03{col 62}{space 3}0.977{col 70}{space 4}-.5044853{col 83}{space 3} .5195651
{txt}{space 24}MDG  {c |}{col 30}{res}{space 2} .4874221{col 42}{space 2} .4362315{col 53}{space 1}    1.12{col 62}{space 3}0.264{col 70}{space 4} -.369227{col 83}{space 3} 1.344071
{txt}{space 24}MNG  {c |}{col 30}{res}{space 2} .0236658{col 42}{space 2} .5027137{col 53}{space 1}    0.05{col 62}{space 3}0.962{col 70}{space 4}-.9635374{col 83}{space 3} 1.010869
{txt}{space 24}MOZ  {c |}{col 30}{res}{space 2} .2206017{col 42}{space 2}  .600311{col 53}{space 1}    0.37{col 62}{space 3}0.713{col 70}{space 4}-.9582582{col 83}{space 3} 1.399462
{txt}{space 24}MRT  {c |}{col 30}{res}{space 2} 1.350616{col 42}{space 2} .5900204{col 53}{space 1}    2.29{col 62}{space 3}0.022{col 70}{space 4} .1919647{col 83}{space 3} 2.509268
{txt}{space 24}MUS  {c |}{col 30}{res}{space 2}-.3757142{col 42}{space 2} .5704079{col 53}{space 1}   -0.66{col 62}{space 3}0.510{col 70}{space 4}-1.495852{col 83}{space 3} .7444235
{txt}{space 24}MWI  {c |}{col 30}{res}{space 2} .0899696{col 42}{space 2} .4514016{col 53}{space 1}    0.20{col 62}{space 3}0.842{col 70}{space 4}-.7964697{col 83}{space 3} .9764088
{txt}{space 24}NIC  {c |}{col 30}{res}{space 2} .5347549{col 42}{space 2} .3421005{col 53}{space 1}    1.56{col 62}{space 3}0.119{col 70}{space 4}-.1370444{col 83}{space 3} 1.206554
{txt}{space 24}NPL  {c |}{col 30}{res}{space 2} .0781365{col 42}{space 2} .7713593{col 53}{space 1}    0.10{col 62}{space 3}0.919{col 70}{space 4}-1.436619{col 83}{space 3} 1.592892
{txt}{space 24}PAK  {c |}{col 30}{res}{space 2}-.0380343{col 42}{space 2} .6289258{col 53}{space 1}   -0.06{col 62}{space 3}0.952{col 70}{space 4}-1.273087{col 83}{space 3} 1.197018
{txt}{space 24}PAN  {c |}{col 30}{res}{space 2}-.7458383{col 42}{space 2} .7682611{col 53}{space 1}   -0.97{col 62}{space 3}0.332{col 70}{space 4} -2.25451{col 83}{space 3} .7628335
{txt}{space 24}PER  {c |}{col 30}{res}{space 2} .2412658{col 42}{space 2} .5044259{col 53}{space 1}    0.48{col 62}{space 3}0.633{col 70}{space 4}-.7492998{col 83}{space 3} 1.231831
{txt}{space 24}PHL  {c |}{col 30}{res}{space 2} .5603296{col 42}{space 2}  .418024{col 53}{space 1}    1.34{col 62}{space 3}0.181{col 70}{space 4}-.2605644{col 83}{space 3} 1.381224
{txt}{space 24}PNG  {c |}{col 30}{res}{space 2} .4663219{col 42}{space 2} .5547631{col 53}{space 1}    0.84{col 62}{space 3}0.401{col 70}{space 4}-.6230933{col 83}{space 3} 1.555737
{txt}{space 24}PRY  {c |}{col 30}{res}{space 2} .3702002{col 42}{space 2} .4089419{col 53}{space 1}    0.91{col 62}{space 3}0.366{col 70}{space 4} -.432859{col 83}{space 3} 1.173259
{txt}{space 24}ROU  {c |}{col 30}{res}{space 2}-.1746742{col 42}{space 2} .4328042{col 53}{space 1}   -0.40{col 62}{space 3}0.687{col 70}{space 4}-1.024593{col 83}{space 3} .6752443
{txt}{space 24}SLE  {c |}{col 30}{res}{space 2} .6550903{col 42}{space 2} .4854115{col 53}{space 1}    1.35{col 62}{space 3}0.178{col 70}{space 4}-.2981359{col 83}{space 3} 1.608317
{txt}{space 24}SLV  {c |}{col 30}{res}{space 2} .1569534{col 42}{space 2} .2934131{col 53}{space 1}    0.53{col 62}{space 3}0.593{col 70}{space 4}-.4192362{col 83}{space 3}  .733143
{txt}{space 24}THA  {c |}{col 30}{res}{space 2}-.5791436{col 42}{space 2}  .551568{col 53}{space 1}   -1.05{col 62}{space 3}0.294{col 70}{space 4}-1.662285{col 83}{space 3} .5039974
{txt}{space 24}TLS  {c |}{col 30}{res}{space 2} 2.455082{col 42}{space 2} 2.001865{col 53}{space 1}    1.23{col 62}{space 3}0.221{col 70}{space 4}-1.476078{col 83}{space 3} 6.386242
{txt}{space 24}TUN  {c |}{col 30}{res}{space 2}-.2516654{col 42}{space 2} .6661139{col 53}{space 1}   -0.38{col 62}{space 3}0.706{col 70}{space 4}-1.559746{col 83}{space 3} 1.056415
{txt}{space 24}TZA  {c |}{col 30}{res}{space 2} .2436898{col 42}{space 2} .4754011{col 53}{space 1}    0.51{col 62}{space 3}0.608{col 70}{space 4}-.6898785{col 83}{space 3} 1.177258
{txt}{space 24}UKR  {c |}{col 30}{res}{space 2}-.2991173{col 42}{space 2} .4441346{col 53}{space 1}   -0.67{col 62}{space 3}0.501{col 70}{space 4}-1.171286{col 83}{space 3} .5730515
{txt}{space 24}ZAF  {c |}{col 30}{res}{space 2}-.3275348{col 42}{space 2} .5910503{col 53}{space 1}   -0.55{col 62}{space 3}0.580{col 70}{space 4}-1.488209{col 83}{space 3} .8331393
{txt}{space 24}ZMB  {c |}{col 30}{res}{space 2}  .128789{col 42}{space 2} .5366026{col 53}{space 1}    0.24{col 62}{space 3}0.810{col 70}{space 4}-.9249635{col 83}{space 3} 1.182542
{txt}{space 28} {c |}
{space 24}year {c |}{col 30}{res}{space 2}  .139454{col 42}{space 2} .0575071{col 53}{space 1}    2.42{col 62}{space 3}0.016{col 70}{space 4} .0265245{col 83}{space 3} .2523835
{txt}{space 9}GlobalReserveLevels {c |}{col 30}{res}{space 2} 2.16e-11{col 42}{space 2} 8.80e-12{col 53}{space 1}    2.45{col 62}{space 3}0.015{col 70}{space 4} 4.28e-12{col 83}{space 3} 3.89e-11
{txt}{space 28} {c |}
c.year#c.GlobalReserveLevels {c |}{col 30}{res}{space 2}-1.08e-14{col 42}{space 2} 4.40e-15{col 53}{space 1}   -2.46{col 62}{space 3}0.014{col 70}{space 4}-1.95e-14{col 83}{space 3}-2.20e-15
{txt}{space 28} {c |}
{space 23}_cons {c |}{col 30}{res}{space 2}-279.3766{col 42}{space 2} 115.0572{col 53}{space 1}   -2.43{col 62}{space 3}0.015{col 70}{space 4}-505.3199{col 83}{space 3}-53.43323
{txt}{hline 29}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store e1a
{txt}
{com}. 
. regress deltaReserves_Imports c.ElectionPeriod3##c.US10YrYields_AnnAvg ElectionYear l.deltaReserves_Imports l.GDPpcap l.GDPgrowth l.ny_gdp_totl_rt_zs l.CurrAcctBal_PerGDP l.ExtDebtStocks_PerGNI l.DebtService_PerGDP l.Inflation_annGDPdeflator l.PegBandManaged_NoUnion l.lvaw_garriga l.Taxes_PerGDP l.BestCRtg l.cyrs l.dyrs l.v2x_polyarchy l.Left i.country_num c.year##c.GlobalReserveLevels, robust

{txt}Linear regression                               Number of obs     = {res}       700
                                                {txt}{help j_robustsingular:F(70, 627) }       =  {res}        .
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.1073
                                                {txt}Root MSE          =    {res} 1.0738

{txt}{hline 40}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 41}{c |}{col 53}    Robust
{col 1}                  deltaReserves_Imports{col 41}{c |}      Coef.{col 53}   Std. Err.{col 65}      t{col 73}   P>|t|{col 81}     [95% Con{col 94}f. Interval]
{hline 40}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 24}ElectionPeriod3 {c |}{col 41}{res}{space 2} .3210712{col 53}{space 2} .2402944{col 64}{space 1}    1.34{col 73}{space 3}0.182{col 81}{space 4}-.1508081{col 94}{space 3} .7929505
{txt}{space 20}US10YrYields_AnnAvg {c |}{col 41}{res}{space 2}-.1951324{col 53}{space 2} .0945715{col 64}{space 1}   -2.06{col 73}{space 3}0.039{col 81}{space 4}-.3808477{col 94}{space 3}-.0094171
{txt}{space 39} {c |}
c.ElectionPeriod3#c.US10YrYields_AnnAvg {c |}{col 41}{res}{space 2}-.1742017{col 53}{space 2} .0730732{col 64}{space 1}   -2.38{col 73}{space 3}0.017{col 81}{space 4}-.3176995{col 94}{space 3}-.0307039
{txt}{space 39} {c |}
{space 27}ElectionYear {c |}{col 41}{res}{space 2} .1648697{col 53}{space 2} .1233554{col 64}{space 1}    1.34{col 73}{space 3}0.182{col 81}{space 4}-.0773701{col 94}{space 3} .4071094
{txt}{space 39} {c |}
{space 18}deltaReserves_Imports {c |}
{space 36}L1. {c |}{col 41}{res}{space 2}-.1703165{col 53}{space 2} .0567272{col 64}{space 1}   -3.00{col 73}{space 3}0.003{col 81}{space 4}-.2817147{col 94}{space 3}-.0589183
{txt}{space 39} {c |}
{space 32}GDPpcap {c |}
{space 36}L1. {c |}{col 41}{res}{space 2} .0000941{col 53}{space 2} .0000587{col 64}{space 1}    1.60{col 73}{space 3}0.110{col 81}{space 4}-.0000213{col 94}{space 3} .0002094
{txt}{space 39} {c |}
{space 30}GDPgrowth {c |}
{space 36}L1. {c |}{col 41}{res}{space 2} .0058544{col 53}{space 2} .0177172{col 64}{space 1}    0.33{col 73}{space 3}0.741{col 81}{space 4}-.0289379{col 94}{space 3} .0406467
{txt}{space 39} {c |}
{space 22}ny_gdp_totl_rt_zs {c |}
{space 36}L1. {c |}{col 41}{res}{space 2}-.0116079{col 53}{space 2} .0205326{col 64}{space 1}   -0.57{col 73}{space 3}0.572{col 81}{space 4}-.0519288{col 94}{space 3}  .028713
{txt}{space 39} {c |}
{space 21}CurrAcctBal_PerGDP {c |}
{space 36}L1. {c |}{col 41}{res}{space 2} .0021086{col 53}{space 2} .0078803{col 64}{space 1}    0.27{col 73}{space 3}0.789{col 81}{space 4}-.0133664{col 94}{space 3} .0175836
{txt}{space 39} {c |}
{space 19}ExtDebtStocks_PerGNI {c |}
{space 36}L1. {c |}{col 41}{res}{space 2}-.0010105{col 53}{space 2} .0011694{col 64}{space 1}   -0.86{col 73}{space 3}0.388{col 81}{space 4}-.0033069{col 94}{space 3}  .001286
{txt}{space 39} {c |}
{space 21}DebtService_PerGDP {c |}
{space 36}L1. {c |}{col 41}{res}{space 2}-.9119627{col 53}{space 2} 1.163698{col 64}{space 1}   -0.78{col 73}{space 3}0.434{col 81}{space 4} -3.19718{col 94}{space 3} 1.373255
{txt}{space 39} {c |}
{space 15}Inflation_annGDPdeflator {c |}
{space 36}L1. {c |}{col 41}{res}{space 2} .0112624{col 53}{space 2} .0075593{col 64}{space 1}    1.49{col 73}{space 3}0.137{col 81}{space 4}-.0035821{col 94}{space 3}  .026107
{txt}{space 39} {c |}
{space 17}PegBandManaged_NoUnion {c |}
{space 36}L1. {c |}{col 41}{res}{space 2} .1853771{col 53}{space 2} .1648828{col 64}{space 1}    1.12{col 73}{space 3}0.261{col 81}{space 4}-.1384122{col 94}{space 3} .5091664
{txt}{space 39} {c |}
{space 27}lvaw_garriga {c |}
{space 36}L1. {c |}{col 41}{res}{space 2}-.4024206{col 53}{space 2} .6023962{col 64}{space 1}   -0.67{col 73}{space 3}0.504{col 81}{space 4}-1.585379{col 94}{space 3} .7805377
{txt}{space 39} {c |}
{space 27}Taxes_PerGDP {c |}
{space 36}L1. {c |}{col 41}{res}{space 2} 4.634792{col 53}{space 2} 2.268533{col 64}{space 1}    2.04{col 73}{space 3}0.041{col 81}{space 4}   .17995{col 94}{space 3} 9.089635
{txt}{space 39} {c |}
{space 31}BestCRtg {c |}
{space 36}L1. {c |}{col 41}{res}{space 2}  .057046{col 53}{space 2} .0302811{col 64}{space 1}    1.88{col 73}{space 3}0.060{col 81}{space 4}-.0024186{col 94}{space 3} .1165105
{txt}{space 39} {c |}
{space 35}cyrs {c |}
{space 36}L1. {c |}{col 41}{res}{space 2} .0133609{col 53}{space 2} .0134069{col 64}{space 1}    1.00{col 73}{space 3}0.319{col 81}{space 4} -.012967{col 94}{space 3} .0396888
{txt}{space 39} {c |}
{space 35}dyrs {c |}
{space 36}L1. {c |}{col 41}{res}{space 2} -.019952{col 53}{space 2} .0116482{col 64}{space 1}   -1.71{col 73}{space 3}0.087{col 81}{space 4}-.0428263{col 94}{space 3} .0029223
{txt}{space 39} {c |}
{space 26}v2x_polyarchy {c |}
{space 36}L1. {c |}{col 41}{res}{space 2}  .594088{col 53}{space 2} .9490427{col 64}{space 1}    0.63{col 73}{space 3}0.532{col 81}{space 4}-1.269599{col 94}{space 3} 2.457775
{txt}{space 39} {c |}
{space 32}LeftGov {c |}
{space 36}L1. {c |}{col 41}{res}{space 2} -.053457{col 53}{space 2} .1205996{col 64}{space 1}   -0.44{col 73}{space 3}0.658{col 81}{space 4} -.290285{col 94}{space 3}  .183371
{txt}{space 39} {c |}
{space 28}country_num {c |}
{space 35}ARG  {c |}{col 41}{res}{space 2} -1.27462{col 53}{space 2} .6792091{col 64}{space 1}   -1.88{col 73}{space 3}0.061{col 81}{space 4} -2.60842{col 94}{space 3} .0591802
{txt}{space 35}ARM  {c |}{col 41}{res}{space 2}-.0534629{col 53}{space 2} .3015083{col 64}{space 1}   -0.18{col 73}{space 3}0.859{col 81}{space 4}-.6455512{col 94}{space 3} .5386254
{txt}{space 35}BGD  {c |}{col 41}{res}{space 2} .1921171{col 53}{space 2} .4941105{col 64}{space 1}    0.39{col 73}{space 3}0.698{col 81}{space 4}-.7781947{col 94}{space 3} 1.162429
{txt}{space 35}BGR  {c |}{col 41}{res}{space 2} .0417106{col 53}{space 2} .4023552{col 64}{space 1}    0.10{col 73}{space 3}0.917{col 81}{space 4}-.7484164{col 94}{space 3} .8318375
{txt}{space 35}BIH  {c |}{col 41}{res}{space 2} .1442081{col 53}{space 2} .3318572{col 64}{space 1}    0.43{col 73}{space 3}0.664{col 81}{space 4} -.507478{col 94}{space 3} .7958942
{txt}{space 35}BRA  {c |}{col 41}{res}{space 2}-.4473741{col 53}{space 2} .8060744{col 64}{space 1}   -0.56{col 73}{space 3}0.579{col 81}{space 4}-2.030307{col 94}{space 3} 1.135558
{txt}{space 35}BWA  {c |}{col 41}{res}{space 2} -.943045{col 53}{space 2} .7648882{col 64}{space 1}   -1.23{col 73}{space 3}0.218{col 81}{space 4}-2.445098{col 94}{space 3} .5590079
{txt}{space 35}DOM  {c |}{col 41}{res}{space 2}  .135726{col 53}{space 2} .3278211{col 64}{space 1}    0.41{col 73}{space 3}0.679{col 81}{space 4}-.5080344{col 94}{space 3} .7794863
{txt}{space 35}ECU  {c |}{col 41}{res}{space 2} .0414519{col 53}{space 2} .3898261{col 64}{space 1}    0.11{col 73}{space 3}0.915{col 81}{space 4}-.7240709{col 94}{space 3} .8069747
{txt}{space 35}GEO  {c |}{col 41}{res}{space 2} .0291718{col 53}{space 2} .3019166{col 64}{space 1}    0.10{col 73}{space 3}0.923{col 81}{space 4}-.5637182{col 94}{space 3} .6220619
{txt}{space 35}GHA  {c |}{col 41}{res}{space 2} .3527981{col 53}{space 2} .5414556{col 64}{space 1}    0.65{col 73}{space 3}0.515{col 81}{space 4}-.7104879{col 94}{space 3} 1.416084
{txt}{space 35}GMB  {c |}{col 41}{res}{space 2} 1.235261{col 53}{space 2} .5942144{col 64}{space 1}    2.08{col 73}{space 3}0.038{col 81}{space 4} .0683695{col 94}{space 3} 2.402152
{txt}{space 35}GTM  {c |}{col 41}{res}{space 2} .8359936{col 53}{space 2} .3307497{col 64}{space 1}    2.53{col 73}{space 3}0.012{col 81}{space 4} .1864823{col 94}{space 3} 1.485505
{txt}{space 35}HND  {c |}{col 41}{res}{space 2}-.1814244{col 53}{space 2} .2977628{col 64}{space 1}   -0.61{col 73}{space 3}0.543{col 81}{space 4}-.7661575{col 94}{space 3} .4033088
{txt}{space 35}HTI  {c |}{col 41}{res}{space 2} .7546705{col 53}{space 2} .6193767{col 64}{space 1}    1.22{col 73}{space 3}0.224{col 81}{space 4}-.4616333{col 94}{space 3} 1.970974
{txt}{space 35}IDN  {c |}{col 41}{res}{space 2} .4386395{col 53}{space 2} .4392647{col 64}{space 1}    1.00{col 73}{space 3}0.318{col 81}{space 4}-.4239687{col 94}{space 3} 1.301248
{txt}{space 35}IND  {c |}{col 41}{res}{space 2} .4605656{col 53}{space 2} .6925638{col 64}{space 1}    0.67{col 73}{space 3}0.506{col 81}{space 4}-.8994598{col 94}{space 3} 1.820591
{txt}{space 35}JAM  {c |}{col 41}{res}{space 2}-.3536217{col 53}{space 2} .5089656{col 64}{space 1}   -0.69{col 73}{space 3}0.487{col 81}{space 4}-1.353105{col 94}{space 3} .6458619
{txt}{space 35}KEN  {c |}{col 41}{res}{space 2} .3342318{col 53}{space 2} .3512096{col 64}{space 1}    0.95{col 73}{space 3}0.342{col 81}{space 4}-.3554577{col 94}{space 3} 1.023921
{txt}{space 35}KGZ  {c |}{col 41}{res}{space 2} .1129022{col 53}{space 2} .3624828{col 64}{space 1}    0.31{col 73}{space 3}0.756{col 81}{space 4}-.5989251{col 94}{space 3} .8247295
{txt}{space 35}LBN  {c |}{col 41}{res}{space 2} .6724296{col 53}{space 2} .6007302{col 64}{space 1}    1.12{col 73}{space 3}0.263{col 81}{space 4}-.5072572{col 94}{space 3} 1.852116
{txt}{space 35}LBR  {c |}{col 41}{res}{space 2}  .806106{col 53}{space 2} .6056839{col 64}{space 1}    1.33{col 73}{space 3}0.184{col 81}{space 4}-.3833085{col 94}{space 3} 1.995521
{txt}{space 35}LKA  {c |}{col 41}{res}{space 2}-.0092133{col 53}{space 2} .3924371{col 64}{space 1}   -0.02{col 73}{space 3}0.981{col 81}{space 4}-.7798635{col 94}{space 3} .7614368
{txt}{space 35}LSO  {c |}{col 41}{res}{space 2}-.7846009{col 53}{space 2}  .711727{col 64}{space 1}   -1.10{col 73}{space 3}0.271{col 81}{space 4}-2.182258{col 94}{space 3} .6130564
{txt}{space 35}MDA  {c |}{col 41}{res}{space 2}  .003766{col 53}{space 2} .2569853{col 64}{space 1}    0.01{col 73}{space 3}0.988{col 81}{space 4}-.5008901{col 94}{space 3}  .508422
{txt}{space 35}MDG  {c |}{col 41}{res}{space 2} .5272106{col 53}{space 2} .4385729{col 64}{space 1}    1.20{col 73}{space 3}0.230{col 81}{space 4}-.3340389{col 94}{space 3}  1.38846
{txt}{space 35}MNG  {c |}{col 41}{res}{space 2} .0636681{col 53}{space 2} .5009867{col 64}{space 1}    0.13{col 73}{space 3}0.899{col 81}{space 4}-.9201469{col 94}{space 3} 1.047483
{txt}{space 35}MOZ  {c |}{col 41}{res}{space 2} .3559157{col 53}{space 2} .5931559{col 64}{space 1}    0.60{col 73}{space 3}0.549{col 81}{space 4}-.8088969{col 94}{space 3} 1.520728
{txt}{space 35}MRT  {c |}{col 41}{res}{space 2}  1.47315{col 53}{space 2} .5937484{col 64}{space 1}    2.48{col 73}{space 3}0.013{col 81}{space 4} .3071737{col 94}{space 3} 2.639126
{txt}{space 35}MUS  {c |}{col 41}{res}{space 2}-.3435348{col 53}{space 2} .5650819{col 64}{space 1}   -0.61{col 73}{space 3}0.543{col 81}{space 4}-1.453217{col 94}{space 3} .7661474
{txt}{space 35}MWI  {c |}{col 41}{res}{space 2} .1443021{col 53}{space 2} .4484575{col 64}{space 1}    0.32{col 73}{space 3}0.748{col 81}{space 4}-.7363585{col 94}{space 3} 1.024963
{txt}{space 35}NIC  {c |}{col 41}{res}{space 2} .5626239{col 53}{space 2}  .337699{col 64}{space 1}    1.67{col 73}{space 3}0.096{col 81}{space 4} -.100534{col 94}{space 3} 1.225782
{txt}{space 35}NPL  {c |}{col 41}{res}{space 2} -.002223{col 53}{space 2} .7676102{col 64}{space 1}   -0.00{col 73}{space 3}0.998{col 81}{space 4}-1.509621{col 94}{space 3} 1.505175
{txt}{space 35}PAK  {c |}{col 41}{res}{space 2} .0022897{col 53}{space 2} .6483255{col 64}{space 1}    0.00{col 73}{space 3}0.997{col 81}{space 4}-1.270863{col 94}{space 3} 1.275442
{txt}{space 35}PAN  {c |}{col 41}{res}{space 2}-.6855285{col 53}{space 2} .7596284{col 64}{space 1}   -0.90{col 73}{space 3}0.367{col 81}{space 4}-2.177252{col 94}{space 3} .8061954
{txt}{space 35}PER  {c |}{col 41}{res}{space 2} .2314635{col 53}{space 2} .5035694{col 64}{space 1}    0.46{col 73}{space 3}0.646{col 81}{space 4}-.7574233{col 94}{space 3}  1.22035
{txt}{space 35}PHL  {c |}{col 41}{res}{space 2} .5925812{col 53}{space 2} .4181229{col 64}{space 1}    1.42{col 73}{space 3}0.157{col 81}{space 4}-.2285095{col 94}{space 3} 1.413672
{txt}{space 35}PNG  {c |}{col 41}{res}{space 2} .5421552{col 53}{space 2} .5544111{col 64}{space 1}    0.98{col 73}{space 3}0.329{col 81}{space 4}-.5465723{col 94}{space 3} 1.630883
{txt}{space 35}PRY  {c |}{col 41}{res}{space 2} .4076968{col 53}{space 2} .4093984{col 64}{space 1}    1.00{col 73}{space 3}0.320{col 81}{space 4}-.3962612{col 94}{space 3} 1.211655
{txt}{space 35}ROU  {c |}{col 41}{res}{space 2}-.1887833{col 53}{space 2} .4306485{col 64}{space 1}   -0.44{col 73}{space 3}0.661{col 81}{space 4}-1.034471{col 94}{space 3} .6569047
{txt}{space 35}SLE  {c |}{col 41}{res}{space 2} .6654713{col 53}{space 2} .4828344{col 64}{space 1}    1.38{col 73}{space 3}0.169{col 81}{space 4}-.2826969{col 94}{space 3}  1.61364
{txt}{space 35}SLV  {c |}{col 41}{res}{space 2} .1576497{col 53}{space 2} .2961479{col 64}{space 1}    0.53{col 73}{space 3}0.595{col 81}{space 4}-.4239121{col 94}{space 3} .7392116
{txt}{space 35}THA  {c |}{col 41}{res}{space 2}-.4370814{col 53}{space 2} .5512206{col 64}{space 1}   -0.79{col 73}{space 3}0.428{col 81}{space 4}-1.519544{col 94}{space 3} .6453807
{txt}{space 35}TLS  {c |}{col 41}{res}{space 2} 2.362392{col 53}{space 2} 2.005101{col 64}{space 1}    1.18{col 73}{space 3}0.239{col 81}{space 4}-1.575134{col 94}{space 3} 6.299918
{txt}{space 35}TUN  {c |}{col 41}{res}{space 2}-.2764544{col 53}{space 2} .6654972{col 64}{space 1}   -0.42{col 73}{space 3}0.678{col 81}{space 4}-1.583328{col 94}{space 3} 1.030419
{txt}{space 35}TZA  {c |}{col 41}{res}{space 2} .2630567{col 53}{space 2} .4688612{col 64}{space 1}    0.56{col 73}{space 3}0.575{col 81}{space 4}-.6576716{col 94}{space 3} 1.183785
{txt}{space 35}UKR  {c |}{col 41}{res}{space 2}-.3111299{col 53}{space 2} .4365006{col 64}{space 1}   -0.71{col 73}{space 3}0.476{col 81}{space 4} -1.16831{col 94}{space 3} .5460503
{txt}{space 35}ZAF  {c |}{col 41}{res}{space 2}-.2508391{col 53}{space 2} .5945717{col 64}{space 1}   -0.42{col 73}{space 3}0.673{col 81}{space 4}-1.418432{col 94}{space 3} .9167539
{txt}{space 35}ZMB  {c |}{col 41}{res}{space 2} .2269879{col 53}{space 2}  .538882{col 64}{space 1}    0.42{col 73}{space 3}0.674{col 81}{space 4}-.8312442{col 94}{space 3}  1.28522
{txt}{space 39} {c |}
{space 35}year {c |}{col 41}{res}{space 2} .1474209{col 53}{space 2} .0581526{col 64}{space 1}    2.54{col 73}{space 3}0.011{col 81}{space 4} .0332233{col 94}{space 3} .2616184
{txt}{space 20}GlobalReserveLevels {c |}{col 41}{res}{space 2} 2.28e-11{col 53}{space 2} 8.87e-12{col 64}{space 1}    2.57{col 73}{space 3}0.010{col 81}{space 4} 5.37e-12{col 94}{space 3} 4.02e-11
{txt}{space 39} {c |}
{space 11}c.year#c.GlobalReserveLevels {c |}{col 41}{res}{space 2}-1.14e-14{col 53}{space 2} 4.43e-15{col 64}{space 1}   -2.58{col 73}{space 3}0.010{col 81}{space 4}-2.01e-14{col 94}{space 3}-2.75e-15
{txt}{space 39} {c |}
{space 34}_cons {c |}{col 41}{res}{space 2}-295.7148{col 53}{space 2} 116.3871{col 64}{space 1}   -2.54{col 73}{space 3}0.011{col 81}{space 4}-524.2706{col 94}{space 3}-67.15905
{txt}{hline 40}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store e1
{txt}
{com}. 
. 
. regress deltaReserves_Imports c.ElectionPeriod6 c.US10YrYields_AnnAvg ElectionYear l.deltaReserves_Imports l.GDPpcap l.GDPgrowth l.ny_gdp_totl_rt_zs l.CurrAcctBal_PerGDP l.ExtDebtStocks_PerGNI l.DebtService_PerGDP l.Inflation_annGDPdeflator l.PegBandManaged_NoUnion l.lvaw_garriga l.Taxes_PerGDP l.BestCRtg l.cyrs l.dyrs l.v2x_polyarchy l.Left i.country_num c.year##c.GlobalReserveLevels, robust

{txt}Linear regression                               Number of obs     = {res}       700
                                                {txt}{help j_robustsingular:F(69, 628) }       =  {res}        .
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0988
                                                {txt}Root MSE          =    {res} 1.0781

{txt}{hline 29}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 30}{c |}{col 42}    Robust
{col 1}       deltaReserves_Imports{col 30}{c |}      Coef.{col 42}   Std. Err.{col 54}      t{col 62}   P>|t|{col 70}     [95% Con{col 83}f. Interval]
{hline 29}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 13}ElectionPeriod6 {c |}{col 30}{res}{space 2}-.1887086{col 42}{space 2} .0963189{col 53}{space 1}   -1.96{col 62}{space 3}0.051{col 70}{space 4}-.3778549{col 83}{space 3} .0004376
{txt}{space 9}US10YrYields_AnnAvg {c |}{col 30}{res}{space 2}-.2362695{col 42}{space 2} .0921408{col 53}{space 1}   -2.56{col 62}{space 3}0.011{col 70}{space 4}-.4172108{col 83}{space 3}-.0553281
{txt}{space 16}ElectionYear {c |}{col 30}{res}{space 2} .0616836{col 42}{space 2} .1064802{col 53}{space 1}    0.58{col 62}{space 3}0.563{col 70}{space 4}-.1474168{col 83}{space 3}  .270784
{txt}{space 28} {c |}
{space 7}deltaReserves_Imports {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} -.167364{col 42}{space 2} .0564559{col 53}{space 1}   -2.96{col 62}{space 3}0.003{col 70}{space 4}-.2782292{col 83}{space 3}-.0564989
{txt}{space 28} {c |}
{space 21}GDPpcap {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0000942{col 42}{space 2} .0000592{col 53}{space 1}    1.59{col 62}{space 3}0.112{col 70}{space 4}-.0000221{col 83}{space 3} .0002104
{txt}{space 28} {c |}
{space 19}GDPgrowth {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0042231{col 42}{space 2} .0178239{col 53}{space 1}    0.24{col 62}{space 3}0.813{col 70}{space 4}-.0307786{col 83}{space 3} .0392247
{txt}{space 28} {c |}
{space 11}ny_gdp_totl_rt_zs {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0113535{col 42}{space 2} .0204211{col 53}{space 1}   -0.56{col 62}{space 3}0.578{col 70}{space 4}-.0514554{col 83}{space 3} .0287485
{txt}{space 28} {c |}
{space 10}CurrAcctBal_PerGDP {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0015836{col 42}{space 2} .0079582{col 53}{space 1}    0.20{col 62}{space 3}0.842{col 70}{space 4}-.0140442{col 83}{space 3} .0172114
{txt}{space 28} {c |}
{space 8}ExtDebtStocks_PerGNI {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0009274{col 42}{space 2} .0011863{col 53}{space 1}   -0.78{col 62}{space 3}0.435{col 70}{space 4} -.003257{col 83}{space 3} .0014021
{txt}{space 28} {c |}
{space 10}DebtService_PerGDP {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-1.002978{col 42}{space 2} 1.222225{col 53}{space 1}   -0.82{col 62}{space 3}0.412{col 70}{space 4}-3.403121{col 83}{space 3} 1.397165
{txt}{space 28} {c |}
{space 4}Inflation_annGDPdeflator {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0102476{col 42}{space 2} .0075872{col 53}{space 1}    1.35{col 62}{space 3}0.177{col 70}{space 4}-.0046516{col 83}{space 3} .0251469
{txt}{space 28} {c |}
{space 6}PegBandManaged_NoUnion {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .1881623{col 42}{space 2} .1652285{col 53}{space 1}    1.14{col 62}{space 3}0.255{col 70}{space 4} -.136305{col 83}{space 3} .5126296
{txt}{space 28} {c |}
{space 16}lvaw_garriga {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.5263609{col 42}{space 2} .6201494{col 53}{space 1}   -0.85{col 62}{space 3}0.396{col 70}{space 4}-1.744178{col 83}{space 3} .6914567
{txt}{space 28} {c |}
{space 16}Taxes_PerGDP {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} 4.672301{col 42}{space 2} 2.307506{col 53}{space 1}    2.02{col 62}{space 3}0.043{col 70}{space 4} .1409391{col 83}{space 3} 9.203663
{txt}{space 28} {c |}
{space 20}BestCRtg {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0544604{col 42}{space 2} .0296014{col 53}{space 1}    1.84{col 62}{space 3}0.066{col 70}{space 4}-.0036692{col 83}{space 3}   .11259
{txt}{space 28} {c |}
{space 24}cyrs {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0129016{col 42}{space 2} .0130116{col 53}{space 1}    0.99{col 62}{space 3}0.322{col 70}{space 4}  -.01265{col 83}{space 3} .0384531
{txt}{space 28} {c |}
{space 24}dyrs {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0199804{col 42}{space 2} .0117373{col 53}{space 1}   -1.70{col 62}{space 3}0.089{col 70}{space 4}-.0430295{col 83}{space 3} .0030688
{txt}{space 28} {c |}
{space 15}v2x_polyarchy {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}  .526113{col 42}{space 2} .9399241{col 53}{space 1}    0.56{col 62}{space 3}0.576{col 70}{space 4}-1.319662{col 83}{space 3} 2.371888
{txt}{space 28} {c |}
{space 21}LeftGov {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0506965{col 42}{space 2} .1197216{col 53}{space 1}   -0.42{col 62}{space 3}0.672{col 70}{space 4}-.2857996{col 83}{space 3} .1844067
{txt}{space 28} {c |}
{space 17}country_num {c |}
{space 24}ARG  {c |}{col 30}{res}{space 2}-1.231996{col 42}{space 2} .6786544{col 53}{space 1}   -1.82{col 62}{space 3}0.070{col 70}{space 4}-2.564703{col 83}{space 3} .1007108
{txt}{space 24}ARM  {c |}{col 30}{res}{space 2}  .052456{col 42}{space 2} .2975386{col 53}{space 1}    0.18{col 62}{space 3}0.860{col 70}{space 4} -.531835{col 83}{space 3}  .636747
{txt}{space 24}BGD  {c |}{col 30}{res}{space 2} .1356415{col 42}{space 2} .5001563{col 53}{space 1}    0.27{col 62}{space 3}0.786{col 70}{space 4}-.8465397{col 83}{space 3} 1.117823
{txt}{space 24}BGR  {c |}{col 30}{res}{space 2}  .044304{col 42}{space 2} .4080593{col 53}{space 1}    0.11{col 62}{space 3}0.914{col 70}{space 4} -.757022{col 83}{space 3} .8456299
{txt}{space 24}BIH  {c |}{col 30}{res}{space 2}  .195272{col 42}{space 2} .3344857{col 53}{space 1}    0.58{col 62}{space 3}0.560{col 70}{space 4}-.4615739{col 83}{space 3} .8521179
{txt}{space 24}BRA  {c |}{col 30}{res}{space 2}-.5113864{col 42}{space 2} .8024824{col 53}{space 1}   -0.64{col 62}{space 3}0.524{col 70}{space 4} -2.08726{col 83}{space 3} 1.064487
{txt}{space 24}BWA  {c |}{col 30}{res}{space 2}-.9466887{col 42}{space 2} .7696659{col 53}{space 1}   -1.23{col 62}{space 3}0.219{col 70}{space 4}-2.458119{col 83}{space 3} .5647416
{txt}{space 24}DOM  {c |}{col 30}{res}{space 2} .1312447{col 42}{space 2} .3288922{col 53}{space 1}    0.40{col 62}{space 3}0.690{col 70}{space 4} -.514617{col 83}{space 3} .7771064
{txt}{space 24}ECU  {c |}{col 30}{res}{space 2} .0242496{col 42}{space 2}  .390622{col 53}{space 1}    0.06{col 62}{space 3}0.951{col 70}{space 4}-.7428338{col 83}{space 3}  .791333
{txt}{space 24}GEO  {c |}{col 30}{res}{space 2} .0639543{col 42}{space 2} .2968164{col 53}{space 1}    0.22{col 62}{space 3}0.829{col 70}{space 4}-.5189186{col 83}{space 3} .6468271
{txt}{space 24}GHA  {c |}{col 30}{res}{space 2}  .392012{col 42}{space 2} .5382666{col 53}{space 1}    0.73{col 62}{space 3}0.467{col 70}{space 4}-.6650083{col 83}{space 3} 1.449032
{txt}{space 24}GMB  {c |}{col 30}{res}{space 2} 1.197212{col 42}{space 2} .5861182{col 53}{space 1}    2.04{col 62}{space 3}0.042{col 70}{space 4} .0462229{col 83}{space 3} 2.348201
{txt}{space 24}GTM  {c |}{col 30}{res}{space 2} .8372424{col 42}{space 2} .3299695{col 53}{space 1}    2.54{col 62}{space 3}0.011{col 70}{space 4} .1892652{col 83}{space 3}  1.48522
{txt}{space 24}HND  {c |}{col 30}{res}{space 2}-.1671344{col 42}{space 2} .2903785{col 53}{space 1}   -0.58{col 62}{space 3}0.565{col 70}{space 4}-.7373647{col 83}{space 3} .4030959
{txt}{space 24}HTI  {c |}{col 30}{res}{space 2} .7164266{col 42}{space 2}  .625273{col 53}{space 1}    1.15{col 62}{space 3}0.252{col 70}{space 4}-.5114525{col 83}{space 3} 1.944306
{txt}{space 24}IDN  {c |}{col 30}{res}{space 2} .4819206{col 42}{space 2} .4418151{col 53}{space 1}    1.09{col 62}{space 3}0.276{col 70}{space 4}-.3856932{col 83}{space 3} 1.349534
{txt}{space 24}IND  {c |}{col 30}{res}{space 2} .4229723{col 42}{space 2} .6900026{col 53}{space 1}    0.61{col 62}{space 3}0.540{col 70}{space 4}-.9320194{col 83}{space 3} 1.777964
{txt}{space 24}JAM  {c |}{col 30}{res}{space 2}-.4058403{col 42}{space 2}  .506204{col 53}{space 1}   -0.80{col 62}{space 3}0.423{col 70}{space 4}-1.399898{col 83}{space 3} .5882172
{txt}{space 24}KEN  {c |}{col 30}{res}{space 2} .3138565{col 42}{space 2} .3423689{col 53}{space 1}    0.92{col 62}{space 3}0.360{col 70}{space 4}  -.35847{col 83}{space 3}  .986183
{txt}{space 24}KGZ  {c |}{col 30}{res}{space 2} .0972485{col 42}{space 2} .3637572{col 53}{space 1}    0.27{col 62}{space 3}0.789{col 70}{space 4}-.6170793{col 83}{space 3} .8115762
{txt}{space 24}LBN  {c |}{col 30}{res}{space 2} .6592483{col 42}{space 2} .6139395{col 53}{space 1}    1.07{col 62}{space 3}0.283{col 70}{space 4}-.5463745{col 83}{space 3} 1.864871
{txt}{space 24}LBR  {c |}{col 30}{res}{space 2} .8112433{col 42}{space 2} .6079423{col 53}{space 1}    1.33{col 62}{space 3}0.183{col 70}{space 4}-.3826025{col 83}{space 3} 2.005089
{txt}{space 24}LKA  {c |}{col 30}{res}{space 2} -.020154{col 42}{space 2} .4016203{col 53}{space 1}   -0.05{col 62}{space 3}0.960{col 70}{space 4}-.8088353{col 83}{space 3} .7685273
{txt}{space 24}LSO  {c |}{col 30}{res}{space 2}-.8018027{col 42}{space 2} .7099198{col 53}{space 1}   -1.13{col 62}{space 3}0.259{col 70}{space 4}-2.195907{col 83}{space 3} .5923014
{txt}{space 24}MDA  {c |}{col 30}{res}{space 2} .0141846{col 42}{space 2} .2585677{col 53}{space 1}    0.05{col 62}{space 3}0.956{col 70}{space 4}-.4935773{col 83}{space 3} .5219465
{txt}{space 24}MDG  {c |}{col 30}{res}{space 2} .5333955{col 42}{space 2} .4365746{col 53}{space 1}    1.22{col 62}{space 3}0.222{col 70}{space 4}-.3239272{col 83}{space 3} 1.390718
{txt}{space 24}MNG  {c |}{col 30}{res}{space 2}-.0156959{col 42}{space 2} .5035887{col 53}{space 1}   -0.03{col 62}{space 3}0.975{col 70}{space 4}-1.004618{col 83}{space 3} .9732258
{txt}{space 24}MOZ  {c |}{col 30}{res}{space 2} .2894304{col 42}{space 2}  .600339{col 53}{space 1}    0.48{col 62}{space 3}0.630{col 70}{space 4}-.8894844{col 83}{space 3} 1.468345
{txt}{space 24}MRT  {c |}{col 30}{res}{space 2} 1.407165{col 42}{space 2} .5875744{col 53}{space 1}    2.39{col 62}{space 3}0.017{col 70}{space 4} .2533165{col 83}{space 3} 2.561013
{txt}{space 24}MUS  {c |}{col 30}{res}{space 2}-.3541695{col 42}{space 2}  .570163{col 53}{space 1}   -0.62{col 62}{space 3}0.535{col 70}{space 4}-1.473826{col 83}{space 3} .7654873
{txt}{space 24}MWI  {c |}{col 30}{res}{space 2} .1080677{col 42}{space 2} .4503988{col 53}{space 1}    0.24{col 62}{space 3}0.810{col 70}{space 4}-.7764024{col 83}{space 3} .9925379
{txt}{space 24}NIC  {c |}{col 30}{res}{space 2} .5688519{col 42}{space 2}  .339721{col 53}{space 1}    1.67{col 62}{space 3}0.095{col 70}{space 4}-.0982747{col 83}{space 3} 1.235978
{txt}{space 24}NPL  {c |}{col 30}{res}{space 2} .0603327{col 42}{space 2} .7729241{col 53}{space 1}    0.08{col 62}{space 3}0.938{col 70}{space 4}-1.457496{col 83}{space 3} 1.578161
{txt}{space 24}PAK  {c |}{col 30}{res}{space 2}-.0204807{col 42}{space 2} .6362115{col 53}{space 1}   -0.03{col 62}{space 3}0.974{col 70}{space 4} -1.26984{col 83}{space 3} 1.228879
{txt}{space 24}PAN  {c |}{col 30}{res}{space 2}-.7420044{col 42}{space 2} .7705745{col 53}{space 1}   -0.96{col 62}{space 3}0.336{col 70}{space 4}-2.255219{col 83}{space 3} .7712101
{txt}{space 24}PER  {c |}{col 30}{res}{space 2} .2358651{col 42}{space 2} .5052234{col 53}{space 1}    0.47{col 62}{space 3}0.641{col 70}{space 4}-.7562667{col 83}{space 3} 1.227997
{txt}{space 24}PHL  {c |}{col 30}{res}{space 2} .5729037{col 42}{space 2} .4153977{col 53}{space 1}    1.38{col 62}{space 3}0.168{col 70}{space 4}-.2428329{col 83}{space 3}  1.38864
{txt}{space 24}PNG  {c |}{col 30}{res}{space 2} .5036672{col 42}{space 2} .5497642{col 53}{space 1}    0.92{col 62}{space 3}0.360{col 70}{space 4}-.5759316{col 83}{space 3} 1.583266
{txt}{space 24}PRY  {c |}{col 30}{res}{space 2}  .374614{col 42}{space 2} .4071225{col 53}{space 1}    0.92{col 62}{space 3}0.358{col 70}{space 4}-.4248722{col 83}{space 3}   1.1741
{txt}{space 24}ROU  {c |}{col 30}{res}{space 2}-.1494824{col 42}{space 2} .4336082{col 53}{space 1}   -0.34{col 62}{space 3}0.730{col 70}{space 4} -1.00098{col 83}{space 3}  .702015
{txt}{space 24}SLE  {c |}{col 30}{res}{space 2} .7015868{col 42}{space 2} .4826893{col 53}{space 1}    1.45{col 62}{space 3}0.147{col 70}{space 4}-.2462936{col 83}{space 3} 1.649467
{txt}{space 24}SLV  {c |}{col 30}{res}{space 2} .1975492{col 42}{space 2} .2915564{col 53}{space 1}    0.68{col 62}{space 3}0.498{col 70}{space 4}-.3749944{col 83}{space 3} .7700927
{txt}{space 24}THA  {c |}{col 30}{res}{space 2}-.5154375{col 42}{space 2}  .551698{col 53}{space 1}   -0.93{col 62}{space 3}0.351{col 70}{space 4}-1.598834{col 83}{space 3} .5679588
{txt}{space 24}TLS  {c |}{col 30}{res}{space 2}  2.54954{col 42}{space 2} 2.005434{col 53}{space 1}    1.27{col 62}{space 3}0.204{col 70}{space 4}-1.388629{col 83}{space 3} 6.487708
{txt}{space 24}TUN  {c |}{col 30}{res}{space 2}-.2305289{col 42}{space 2} .6652881{col 53}{space 1}   -0.35{col 62}{space 3}0.729{col 70}{space 4}-1.536988{col 83}{space 3}  1.07593
{txt}{space 24}TZA  {c |}{col 30}{res}{space 2} .2883513{col 42}{space 2} .4737197{col 53}{space 1}    0.61{col 62}{space 3}0.543{col 70}{space 4}-.6419151{col 83}{space 3} 1.218618
{txt}{space 24}UKR  {c |}{col 30}{res}{space 2}-.2789595{col 42}{space 2}  .446922{col 53}{space 1}   -0.62{col 62}{space 3}0.533{col 70}{space 4}-1.156602{col 83}{space 3}  .598683
{txt}{space 24}ZAF  {c |}{col 30}{res}{space 2}-.3089352{col 42}{space 2} .5882592{col 53}{space 1}   -0.53{col 62}{space 3}0.600{col 70}{space 4}-1.464128{col 83}{space 3}  .846258
{txt}{space 24}ZMB  {c |}{col 30}{res}{space 2} .1948689{col 42}{space 2} .5345185{col 53}{space 1}    0.36{col 62}{space 3}0.716{col 70}{space 4}-.8547912{col 83}{space 3} 1.244529
{txt}{space 28} {c |}
{space 24}year {c |}{col 30}{res}{space 2} .1355628{col 42}{space 2} .0574347{col 53}{space 1}    2.36{col 62}{space 3}0.019{col 70}{space 4} .0227754{col 83}{space 3} .2483502
{txt}{space 9}GlobalReserveLevels {c |}{col 30}{res}{space 2} 2.09e-11{col 42}{space 2} 8.79e-12{col 53}{space 1}    2.38{col 62}{space 3}0.018{col 70}{space 4} 3.65e-12{col 83}{space 3} 3.82e-11
{txt}{space 28} {c |}
c.year#c.GlobalReserveLevels {c |}{col 30}{res}{space 2}-1.05e-14{col 42}{space 2} 4.39e-15{col 53}{space 1}   -2.39{col 62}{space 3}0.017{col 70}{space 4}-1.91e-14{col 83}{space 3}-1.88e-15
{txt}{space 28} {c |}
{space 23}_cons {c |}{col 30}{res}{space 2}-271.7175{col 42}{space 2} 114.9114{col 53}{space 1}   -2.36{col 62}{space 3}0.018{col 70}{space 4}-497.3747{col 83}{space 3}-46.06039
{txt}{hline 29}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store e2a
{txt}
{com}. 
. regress deltaReserves_Imports c.ElectionPeriod6##c.US10YrYields_AnnAvg ElectionYear l.deltaReserves_Imports l.GDPpcap l.GDPgrowth l.ny_gdp_totl_rt_zs l.CurrAcctBal_PerGDP l.ExtDebtStocks_PerGNI l.DebtService_PerGDP l.Inflation_annGDPdeflator l.PegBandManaged_NoUnion l.lvaw_garriga l.Taxes_PerGDP l.BestCRtg l.cyrs l.dyrs l.v2x_polyarchy l.Left i.country_num c.year##c.GlobalReserveLevels, robust

{txt}Linear regression                               Number of obs     = {res}       700
                                                {txt}{help j_robustsingular:F(70, 627) }       =  {res}        .
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.1019
                                                {txt}Root MSE          =    {res} 1.0771

{txt}{hline 40}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 41}{c |}{col 53}    Robust
{col 1}                  deltaReserves_Imports{col 41}{c |}      Coef.{col 53}   Std. Err.{col 65}      t{col 73}   P>|t|{col 81}     [95% Con{col 94}f. Interval]
{hline 40}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 24}ElectionPeriod6 {c |}{col 41}{res}{space 2}  .230051{col 53}{space 2} .2459582{col 64}{space 1}    0.94{col 73}{space 3}0.350{col 81}{space 4}-.2529507{col 94}{space 3} .7130526
{txt}{space 20}US10YrYields_AnnAvg {c |}{col 41}{res}{space 2}-.2017902{col 53}{space 2} .0948429{col 64}{space 1}   -2.13{col 73}{space 3}0.034{col 81}{space 4}-.3880385{col 94}{space 3}-.0155419
{txt}{space 39} {c |}
c.ElectionPeriod6#c.US10YrYields_AnnAvg {c |}{col 41}{res}{space 2}-.1290871{col 53}{space 2} .0754146{col 64}{space 1}   -1.71{col 73}{space 3}0.087{col 81}{space 4} -.277183{col 94}{space 3} .0190087
{txt}{space 39} {c |}
{space 27}ElectionYear {c |}{col 41}{res}{space 2} .0753983{col 53}{space 2} .1069408{col 64}{space 1}    0.71{col 73}{space 3}0.481{col 81}{space 4}-.1346072{col 94}{space 3} .2854038
{txt}{space 39} {c |}
{space 18}deltaReserves_Imports {c |}
{space 36}L1. {c |}{col 41}{res}{space 2}-.1679146{col 53}{space 2}  .056498{col 64}{space 1}   -2.97{col 73}{space 3}0.003{col 81}{space 4}-.2788627{col 94}{space 3}-.0569665
{txt}{space 39} {c |}
{space 32}GDPpcap {c |}
{space 36}L1. {c |}{col 41}{res}{space 2} .0000969{col 53}{space 2} .0000594{col 64}{space 1}    1.63{col 73}{space 3}0.103{col 81}{space 4}-.0000198{col 94}{space 3} .0002135
{txt}{space 39} {c |}
{space 30}GDPgrowth {c |}
{space 36}L1. {c |}{col 41}{res}{space 2} .0052185{col 53}{space 2} .0177637{col 64}{space 1}    0.29{col 73}{space 3}0.769{col 81}{space 4} -.029665{col 94}{space 3} .0401021
{txt}{space 39} {c |}
{space 22}ny_gdp_totl_rt_zs {c |}
{space 36}L1. {c |}{col 41}{res}{space 2}-.0108463{col 53}{space 2} .0204698{col 64}{space 1}   -0.53{col 73}{space 3}0.596{col 81}{space 4}-.0510438{col 94}{space 3} .0293513
{txt}{space 39} {c |}
{space 21}CurrAcctBal_PerGDP {c |}
{space 36}L1. {c |}{col 41}{res}{space 2} .0012934{col 53}{space 2} .0079498{col 64}{space 1}    0.16{col 73}{space 3}0.871{col 81}{space 4} -.014318{col 94}{space 3} .0169048
{txt}{space 39} {c |}
{space 19}ExtDebtStocks_PerGNI {c |}
{space 36}L1. {c |}{col 41}{res}{space 2}-.0008619{col 53}{space 2} .0011805{col 64}{space 1}   -0.73{col 73}{space 3}0.466{col 81}{space 4}-.0031801{col 94}{space 3} .0014563
{txt}{space 39} {c |}
{space 21}DebtService_PerGDP {c |}
{space 36}L1. {c |}{col 41}{res}{space 2}-1.060618{col 53}{space 2} 1.212797{col 64}{space 1}   -0.87{col 73}{space 3}0.382{col 81}{space 4}-3.442253{col 94}{space 3} 1.321018
{txt}{space 39} {c |}
{space 15}Inflation_annGDPdeflator {c |}
{space 36}L1. {c |}{col 41}{res}{space 2} .0105037{col 53}{space 2} .0074136{col 64}{space 1}    1.42{col 73}{space 3}0.157{col 81}{space 4}-.0040548{col 94}{space 3} .0250623
{txt}{space 39} {c |}
{space 17}PegBandManaged_NoUnion {c |}
{space 36}L1. {c |}{col 41}{res}{space 2} .1846098{col 53}{space 2} .1651424{col 64}{space 1}    1.12{col 73}{space 3}0.264{col 81}{space 4}-.1396894{col 94}{space 3} .5089089
{txt}{space 39} {c |}
{space 27}lvaw_garriga {c |}
{space 36}L1. {c |}{col 41}{res}{space 2}-.4147427{col 53}{space 2} .6087181{col 64}{space 1}   -0.68{col 73}{space 3}0.496{col 81}{space 4}-1.610116{col 94}{space 3} .7806303
{txt}{space 39} {c |}
{space 27}Taxes_PerGDP {c |}
{space 36}L1. {c |}{col 41}{res}{space 2} 4.606965{col 53}{space 2}  2.29926{col 64}{space 1}    2.00{col 73}{space 3}0.046{col 81}{space 4} .0917829{col 94}{space 3} 9.122148
{txt}{space 39} {c |}
{space 31}BestCRtg {c |}
{space 36}L1. {c |}{col 41}{res}{space 2} .0564835{col 53}{space 2} .0300998{col 64}{space 1}    1.88{col 73}{space 3}0.061{col 81}{space 4}-.0026251{col 94}{space 3} .1155921
{txt}{space 39} {c |}
{space 35}cyrs {c |}
{space 36}L1. {c |}{col 41}{res}{space 2} .0132792{col 53}{space 2} .0132677{col 64}{space 1}    1.00{col 73}{space 3}0.317{col 81}{space 4}-.0127754{col 94}{space 3} .0393337
{txt}{space 39} {c |}
{space 35}dyrs {c |}
{space 36}L1. {c |}{col 41}{res}{space 2}-.0203014{col 53}{space 2} .0116712{col 64}{space 1}   -1.74{col 73}{space 3}0.082{col 81}{space 4}-.0432207{col 94}{space 3}  .002618
{txt}{space 39} {c |}
{space 26}v2x_polyarchy {c |}
{space 36}L1. {c |}{col 41}{res}{space 2} .5678259{col 53}{space 2} .9455511{col 64}{space 1}    0.60{col 73}{space 3}0.548{col 81}{space 4}-1.289004{col 94}{space 3} 2.424656
{txt}{space 39} {c |}
{space 32}LeftGov {c |}
{space 36}L1. {c |}{col 41}{res}{space 2} -.051344{col 53}{space 2} .1204574{col 64}{space 1}   -0.43{col 73}{space 3}0.670{col 81}{space 4}-.2878928{col 94}{space 3} .1852049
{txt}{space 39} {c |}
{space 28}country_num {c |}
{space 35}ARG  {c |}{col 41}{res}{space 2}-1.263358{col 53}{space 2} .6845929{col 64}{space 1}   -1.85{col 73}{space 3}0.065{col 81}{space 4}-2.607731{col 94}{space 3} .0810142
{txt}{space 35}ARM  {c |}{col 41}{res}{space 2}-.0228886{col 53}{space 2} .3000098{col 64}{space 1}   -0.08{col 73}{space 3}0.939{col 81}{space 4}-.6120341{col 94}{space 3}  .566257
{txt}{space 35}BGD  {c |}{col 41}{res}{space 2} .2134412{col 53}{space 2} .5004158{col 64}{space 1}    0.43{col 73}{space 3}0.670{col 81}{space 4}-.7692527{col 94}{space 3} 1.196135
{txt}{space 35}BGR  {c |}{col 41}{res}{space 2} .0333238{col 53}{space 2} .4065563{col 64}{space 1}    0.08{col 73}{space 3}0.935{col 81}{space 4}-.7650529{col 94}{space 3} .8317006
{txt}{space 35}BIH  {c |}{col 41}{res}{space 2} .1603179{col 53}{space 2} .3320025{col 64}{space 1}    0.48{col 73}{space 3}0.629{col 81}{space 4}-.4916536{col 94}{space 3} .8122894
{txt}{space 35}BRA  {c |}{col 41}{res}{space 2}-.4451384{col 53}{space 2} .8072584{col 64}{space 1}   -0.55{col 73}{space 3}0.582{col 81}{space 4}-2.030396{col 94}{space 3} 1.140119
{txt}{space 35}BWA  {c |}{col 41}{res}{space 2}-.9128849{col 53}{space 2} .7685166{col 64}{space 1}   -1.19{col 73}{space 3}0.235{col 81}{space 4}-2.422063{col 94}{space 3} .5962931
{txt}{space 35}DOM  {c |}{col 41}{res}{space 2} .1280191{col 53}{space 2} .3283304{col 64}{space 1}    0.39{col 73}{space 3}0.697{col 81}{space 4}-.5167412{col 94}{space 3} .7727794
{txt}{space 35}ECU  {c |}{col 41}{res}{space 2} .0369784{col 53}{space 2} .3887539{col 64}{space 1}    0.10{col 73}{space 3}0.924{col 81}{space 4} -.726439{col 94}{space 3} .8003957
{txt}{space 35}GEO  {c |}{col 41}{res}{space 2} .0504063{col 53}{space 2} .2990894{col 64}{space 1}    0.17{col 73}{space 3}0.866{col 81}{space 4} -.536932{col 94}{space 3} .6377445
{txt}{space 35}GHA  {c |}{col 41}{res}{space 2} .3816972{col 53}{space 2} .5395148{col 64}{space 1}    0.71{col 73}{space 3}0.480{col 81}{space 4}-.6777776{col 94}{space 3} 1.441172
{txt}{space 35}GMB  {c |}{col 41}{res}{space 2} 1.238886{col 53}{space 2} .5926148{col 64}{space 1}    2.09{col 73}{space 3}0.037{col 81}{space 4} .0751357{col 94}{space 3} 2.402636
{txt}{space 35}GTM  {c |}{col 41}{res}{space 2} .8496528{col 53}{space 2} .3300941{col 64}{space 1}    2.57{col 73}{space 3}0.010{col 81}{space 4}  .201429{col 94}{space 3} 1.497877
{txt}{space 35}HND  {c |}{col 41}{res}{space 2}-.1589109{col 53}{space 2}  .296172{col 64}{space 1}   -0.54{col 73}{space 3}0.592{col 81}{space 4}-.7405201{col 94}{space 3} .4226983
{txt}{space 35}HTI  {c |}{col 41}{res}{space 2} .7682482{col 53}{space 2} .6215806{col 64}{space 1}    1.24{col 73}{space 3}0.217{col 81}{space 4}-.4523837{col 94}{space 3}  1.98888
{txt}{space 35}IDN  {c |}{col 41}{res}{space 2} .4670161{col 53}{space 2}  .439735{col 64}{space 1}    1.06{col 73}{space 3}0.289{col 81}{space 4}-.3965156{col 94}{space 3} 1.330548
{txt}{space 35}IND  {c |}{col 41}{res}{space 2} .4841954{col 53}{space 2} .6903687{col 64}{space 1}    0.70{col 73}{space 3}0.483{col 81}{space 4}-.8715193{col 94}{space 3}  1.83991
{txt}{space 35}JAM  {c |}{col 41}{res}{space 2} -.343842{col 53}{space 2} .5067405{col 64}{space 1}   -0.68{col 73}{space 3}0.498{col 81}{space 4}-1.338956{col 94}{space 3}  .651272
{txt}{space 35}KEN  {c |}{col 41}{res}{space 2} .3492839{col 53}{space 2}  .349985{col 64}{space 1}    1.00{col 73}{space 3}0.319{col 81}{space 4}-.3380007{col 94}{space 3} 1.036568
{txt}{space 35}KGZ  {c |}{col 41}{res}{space 2} .1147344{col 53}{space 2} .3608929{col 64}{space 1}    0.32{col 73}{space 3}0.751{col 81}{space 4}-.5939707{col 94}{space 3} .8234396
{txt}{space 35}LBN  {c |}{col 41}{res}{space 2} .6802523{col 53}{space 2}  .608022{col 64}{space 1}    1.12{col 73}{space 3}0.264{col 81}{space 4}-.5137537{col 94}{space 3} 1.874258
{txt}{space 35}LBR  {c |}{col 41}{res}{space 2} .8004839{col 53}{space 2} .6061786{col 64}{space 1}    1.32{col 73}{space 3}0.187{col 81}{space 4}-.3899021{col 94}{space 3}  1.99087
{txt}{space 35}LKA  {c |}{col 41}{res}{space 2}-.0279905{col 53}{space 2} .4025295{col 64}{space 1}   -0.07{col 73}{space 3}0.945{col 81}{space 4}-.8184596{col 94}{space 3} .7624787
{txt}{space 35}LSO  {c |}{col 41}{res}{space 2} -.746895{col 53}{space 2} .7152734{col 64}{space 1}   -1.04{col 73}{space 3}0.297{col 81}{space 4}-2.151517{col 94}{space 3} .6577264
{txt}{space 35}MDA  {c |}{col 41}{res}{space 2}-.0001388{col 53}{space 2} .2559433{col 64}{space 1}   -0.00{col 73}{space 3}1.000{col 81}{space 4}-.5027485{col 94}{space 3}  .502471
{txt}{space 35}MDG  {c |}{col 41}{res}{space 2} .5498475{col 53}{space 2} .4389784{col 64}{space 1}    1.25{col 73}{space 3}0.211{col 81}{space 4}-.3121984{col 94}{space 3} 1.411893
{txt}{space 35}MNG  {c |}{col 41}{res}{space 2}-.0183773{col 53}{space 2} .5044953{col 64}{space 1}   -0.04{col 73}{space 3}0.971{col 81}{space 4}-1.009082{col 94}{space 3} .9723278
{txt}{space 35}MOZ  {c |}{col 41}{res}{space 2} .3423907{col 53}{space 2} .5957514{col 64}{space 1}    0.57{col 73}{space 3}0.566{col 81}{space 4} -.827519{col 94}{space 3}   1.5123
{txt}{space 35}MRT  {c |}{col 41}{res}{space 2} 1.454863{col 53}{space 2} .5872371{col 64}{space 1}    2.48{col 73}{space 3}0.013{col 81}{space 4} .3016731{col 94}{space 3} 2.608052
{txt}{space 35}MUS  {c |}{col 41}{res}{space 2}-.3507248{col 53}{space 2} .5681058{col 64}{space 1}   -0.62{col 73}{space 3}0.537{col 81}{space 4}-1.466345{col 94}{space 3} .7648956
{txt}{space 35}MWI  {c |}{col 41}{res}{space 2} .1368556{col 53}{space 2} .4500577{col 64}{space 1}    0.30{col 73}{space 3}0.761{col 81}{space 4}-.7469473{col 94}{space 3} 1.020658
{txt}{space 35}NIC  {c |}{col 41}{res}{space 2} .5815799{col 53}{space 2} .3376061{col 64}{space 1}    1.72{col 73}{space 3}0.085{col 81}{space 4}-.0813958{col 94}{space 3} 1.244556
{txt}{space 35}NPL  {c |}{col 41}{res}{space 2} .0058867{col 53}{space 2}  .769367{col 64}{space 1}    0.01{col 73}{space 3}0.994{col 81}{space 4}-1.504961{col 94}{space 3} 1.516735
{txt}{space 35}PAK  {c |}{col 41}{res}{space 2} .0138173{col 53}{space 2} .6478643{col 64}{space 1}    0.02{col 73}{space 3}0.983{col 81}{space 4}-1.258429{col 94}{space 3} 1.286064
{txt}{space 35}PAN  {c |}{col 41}{res}{space 2} -.727774{col 53}{space 2} .7691022{col 64}{space 1}   -0.95{col 73}{space 3}0.344{col 81}{space 4}-2.238102{col 94}{space 3}  .782554
{txt}{space 35}PER  {c |}{col 41}{res}{space 2} .2217769{col 53}{space 2} .5060634{col 64}{space 1}    0.44{col 73}{space 3}0.661{col 81}{space 4}-.7720074{col 94}{space 3} 1.215561
{txt}{space 35}PHL  {c |}{col 41}{res}{space 2} .5954056{col 53}{space 2} .4162956{col 64}{space 1}    1.43{col 73}{space 3}0.153{col 81}{space 4}-.2220969{col 94}{space 3} 1.412908
{txt}{space 35}PNG  {c |}{col 41}{res}{space 2} .5308879{col 53}{space 2} .5510875{col 64}{space 1}    0.96{col 73}{space 3}0.336{col 81}{space 4}-.5513128{col 94}{space 3} 1.613089
{txt}{space 35}PRY  {c |}{col 41}{res}{space 2}  .385289{col 53}{space 2} .4087228{col 64}{space 1}    0.94{col 73}{space 3}0.346{col 81}{space 4}-.4173424{col 94}{space 3}  1.18792
{txt}{space 35}ROU  {c |}{col 41}{res}{space 2}-.1735375{col 53}{space 2} .4335255{col 64}{space 1}   -0.40{col 73}{space 3}0.689{col 81}{space 4}-1.024875{col 94}{space 3} .6778002
{txt}{space 35}SLE  {c |}{col 41}{res}{space 2} .6842646{col 53}{space 2} .4821893{col 64}{space 1}    1.42{col 73}{space 3}0.156{col 81}{space 4}-.2626369{col 94}{space 3} 1.631166
{txt}{space 35}SLV  {c |}{col 41}{res}{space 2} .1941124{col 53}{space 2} .2941166{col 64}{space 1}    0.66{col 73}{space 3}0.510{col 81}{space 4}-.3834605{col 94}{space 3} .7716853
{txt}{space 35}THA  {c |}{col 41}{res}{space 2}-.4255373{col 53}{space 2}  .552511{col 64}{space 1}   -0.77{col 73}{space 3}0.441{col 81}{space 4}-1.510533{col 94}{space 3} .6594588
{txt}{space 35}TLS  {c |}{col 41}{res}{space 2} 2.392112{col 53}{space 2} 2.017102{col 64}{space 1}    1.19{col 73}{space 3}0.236{col 81}{space 4}-1.568981{col 94}{space 3} 6.353205
{txt}{space 35}TUN  {c |}{col 41}{res}{space 2}-.2589647{col 53}{space 2} .6647728{col 64}{space 1}   -0.39{col 73}{space 3}0.697{col 81}{space 4}-1.564415{col 94}{space 3} 1.046486
{txt}{space 35}TZA  {c |}{col 41}{res}{space 2} .2902423{col 53}{space 2}  .469953{col 64}{space 1}    0.62{col 73}{space 3}0.537{col 81}{space 4}  -.63263{col 94}{space 3} 1.213115
{txt}{space 35}UKR  {c |}{col 41}{res}{space 2} -.279305{col 53}{space 2} .4424576{col 64}{space 1}   -0.63{col 73}{space 3}0.528{col 81}{space 4}-1.148183{col 94}{space 3} .5895732
{txt}{space 35}ZAF  {c |}{col 41}{res}{space 2}-.2547492{col 53}{space 2} .5917779{col 64}{space 1}   -0.43{col 73}{space 3}0.667{col 81}{space 4}-1.416856{col 94}{space 3} .9073575
{txt}{space 35}ZMB  {c |}{col 41}{res}{space 2} .2433183{col 53}{space 2} .5381419{col 64}{space 1}    0.45{col 73}{space 3}0.651{col 81}{space 4}-.8134602{col 94}{space 3} 1.300097
{txt}{space 39} {c |}
{space 35}year {c |}{col 41}{res}{space 2} .1395911{col 53}{space 2} .0578063{col 64}{space 1}    2.41{col 73}{space 3}0.016{col 81}{space 4} .0260737{col 94}{space 3} .2531085
{txt}{space 20}GlobalReserveLevels {c |}{col 41}{res}{space 2} 2.14e-11{col 53}{space 2} 8.81e-12{col 64}{space 1}    2.42{col 73}{space 3}0.016{col 81}{space 4} 4.06e-12{col 94}{space 3} 3.87e-11
{txt}{space 39} {c |}
{space 11}c.year#c.GlobalReserveLevels {c |}{col 41}{res}{space 2}-1.07e-14{col 53}{space 2} 4.40e-15{col 64}{space 1}   -2.44{col 73}{space 3}0.015{col 81}{space 4}-1.94e-14{col 94}{space 3}-2.09e-15
{txt}{space 39} {c |}
{space 34}_cons {c |}{col 41}{res}{space 2}-280.0294{col 53}{space 2} 115.6872{col 64}{space 1}   -2.42{col 73}{space 3}0.016{col 81}{space 4}-507.2106{col 94}{space 3}-52.84814
{txt}{hline 40}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store e2
{txt}
{com}. 
. 
. 
. estout e1a e1 e2a e2, cells(b(star fmt(%9.3f)) se(par fmt(%9.3f))) starlevels(* 0.1 ** 0.05 ) ///
> stats(r2 N , fmt(%9.2f %9.0f) labels("R2" ))  style(tex) ///
> legend label collabels(none) ///
> varlabels(_cons Constant  "c.ElectionPeriod3#c.US10YrYields_AnnAvg" "Election3*USrates" "c.ElectionPeriod6#c.US10YrYields_AnnAvg" "Election6*USrates" ) ///
> order(ElectionPeriod3 US10YrYields_AnnAvg ElectionYear  c.ElectionPeriod3#c.US10YrYields_AnnAvg ElectionPeriod6 US10YrYields_AnnAvg post_Election   c.ElectionPeriod6#c.US10YrYields_AnnAvg ) keep(ElectionPeriod3  ElectionPeriod6 US10YrYields_AnnAvg ElectionYear   c.ElectionPeriod3#c.US10YrYields_AnnAvg   c.ElectionPeriod6#c.US10YrYields_AnnAvg  ) ///
> mlabels ("Model 1"  "Model 2") ///
> title("") 
{res}
                    &     Model 1  &     Model 2  &         e2a  &          e2  \\
ElectionPeriod3     &      -0.242**&       0.321  &              &              \\
                    &     (0.103)  &     (0.240)  &              &              \\
US10YrYields_AnnAvg &      -0.248**&      -0.195**&      -0.236**&      -0.202**\\
                    &     (0.091)  &     (0.095)  &     (0.092)  &     (0.095)  \\
ElectionYear        &       0.159  &       0.165  &       0.062  &       0.075  \\
                    &     (0.123)  &     (0.123)  &     (0.106)  &     (0.107)  \\
Election3*USrates   &              &      -0.174**&              &              \\
                    &              &     (0.073)  &              &              \\
ElectionPeriod6     &              &              &      -0.189* &       0.230  \\
                    &              &              &     (0.096)  &     (0.246)  \\
Election6*USrates   &              &              &              &      -0.129* \\
                    &              &              &              &     (0.075)  \\
R2                  &        0.10  &        0.11  &        0.10  &        0.10  \\
N                   &         700  &         700  &         700  &         700  \\
* p<0.1, ** p<0.05
{txt}
{com}. 
. 
. ***************************************************************************************************************************************************************************
. *Section J: Debt Effects
. 
. 
. regress d.log_gt1yrOnly deltaReserves_Imports i.country_num c.year##c.GlobalReserveLevels, robust

{txt}Linear regression                               Number of obs     = {res}       502
                                                {txt}{help j_robustsingular:F(49, 449) }       =  {res}        .
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0771
                                                {txt}Root MSE          =    {res} 1.4329

{txt}{hline 29}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 30}{c |}{col 42}    Robust
{col 1}             D.log_gt1yrOnly{col 30}{c |}      Coef.{col 42}   Std. Err.{col 54}      t{col 62}   P>|t|{col 70}     [95% Con{col 83}f. Interval]
{hline 29}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}deltaReserves_Imports {c |}{col 30}{res}{space 2} .1232694{col 42}{space 2} .0473224{col 53}{space 1}    2.60{col 62}{space 3}0.009{col 70}{space 4} .0302686{col 83}{space 3} .2162702
{txt}{space 28} {c |}
{space 17}country_num {c |}
{space 24}ARG  {c |}{col 30}{res}{space 2} -.283712{col 42}{space 2} .4106879{col 53}{space 1}   -0.69{col 62}{space 3}0.490{col 70}{space 4}-1.090821{col 83}{space 3} .5233972
{txt}{space 24}ARM  {c |}{col 30}{res}{space 2} 1.521434{col 42}{space 2} .3767175{col 53}{space 1}    4.04{col 62}{space 3}0.000{col 70}{space 4} .7810856{col 83}{space 3} 2.261782
{txt}{space 24}BGD  {c |}{col 30}{res}{space 2} 2.462499{col 42}{space 2} .4071096{col 53}{space 1}    6.05{col 62}{space 3}0.000{col 70}{space 4} 1.662422{col 83}{space 3} 3.262576
{txt}{space 24}BGR  {c |}{col 30}{res}{space 2}-.2243241{col 42}{space 2} .3452657{col 53}{space 1}   -0.65{col 62}{space 3}0.516{col 70}{space 4}-.9028615{col 83}{space 3} .4542133
{txt}{space 24}BIH  {c |}{col 30}{res}{space 2}-.5315359{col 42}{space 2}  .781099{col 53}{space 1}   -0.68{col 62}{space 3}0.497{col 70}{space 4}  -2.0666{col 83}{space 3} 1.003528
{txt}{space 24}BOL  {c |}{col 30}{res}{space 2} .1998434{col 42}{space 2} .6808446{col 53}{space 1}    0.29{col 62}{space 3}0.769{col 70}{space 4}-1.138194{col 83}{space 3} 1.537881
{txt}{space 24}BRA  {c |}{col 30}{res}{space 2}-.4533895{col 42}{space 2} .2862487{col 53}{space 1}   -1.58{col 62}{space 3}0.114{col 70}{space 4}-1.015943{col 83}{space 3}  .109164
{txt}{space 24}BWA  {c |}{col 30}{res}{space 2}-.3398587{col 42}{space 2} .4287706{col 53}{space 1}   -0.79{col 62}{space 3}0.428{col 70}{space 4}-1.182505{col 83}{space 3} .5027876
{txt}{space 24}CYP  {c |}{col 30}{res}{space 2} -.492955{col 42}{space 2} .3793598{col 53}{space 1}   -1.30{col 62}{space 3}0.194{col 70}{space 4}-1.238496{col 83}{space 3} .2525861
{txt}{space 24}DOM  {c |}{col 30}{res}{space 2}-.2310249{col 42}{space 2} .4938714{col 53}{space 1}   -0.47{col 62}{space 3}0.640{col 70}{space 4}-1.201611{col 83}{space 3} .7395614
{txt}{space 24}ECU  {c |}{col 30}{res}{space 2} .2411875{col 42}{space 2}  .281705{col 53}{space 1}    0.86{col 62}{space 3}0.392{col 70}{space 4}-.3124364{col 83}{space 3} .7948115
{txt}{space 24}GEO  {c |}{col 30}{res}{space 2}-.0525525{col 42}{space 2} .7168046{col 53}{space 1}   -0.07{col 62}{space 3}0.942{col 70}{space 4}-1.461261{col 83}{space 3} 1.356156
{txt}{space 24}GHA  {c |}{col 30}{res}{space 2} .1943207{col 42}{space 2} .5262141{col 53}{space 1}    0.37{col 62}{space 3}0.712{col 70}{space 4}-.8398277{col 83}{space 3} 1.228469
{txt}{space 24}GTM  {c |}{col 30}{res}{space 2}-.3950852{col 42}{space 2} .5406115{col 53}{space 1}   -0.73{col 62}{space 3}0.465{col 70}{space 4}-1.457528{col 83}{space 3} .6673579
{txt}{space 24}HND  {c |}{col 30}{res}{space 2} -.271592{col 42}{space 2} 1.317249{col 53}{space 1}   -0.21{col 62}{space 3}0.837{col 70}{space 4} -2.86033{col 83}{space 3} 2.317146
{txt}{space 24}HRV  {c |}{col 30}{res}{space 2} -.335498{col 42}{space 2} .2844041{col 53}{space 1}   -1.18{col 62}{space 3}0.239{col 70}{space 4}-.8944263{col 83}{space 3} .2234304
{txt}{space 24}IDN  {c |}{col 30}{res}{space 2}-.3728232{col 42}{space 2} .4038304{col 53}{space 1}   -0.92{col 62}{space 3}0.356{col 70}{space 4}-1.166456{col 83}{space 3} .4208092
{txt}{space 24}IND  {c |}{col 30}{res}{space 2}-.2718243{col 42}{space 2} .2723927{col 53}{space 1}   -1.00{col 62}{space 3}0.319{col 70}{space 4}-.8071472{col 83}{space 3} .2634986
{txt}{space 24}JAM  {c |}{col 30}{res}{space 2}-.3738537{col 42}{space 2} .6912558{col 53}{space 1}   -0.54{col 62}{space 3}0.589{col 70}{space 4}-1.732352{col 83}{space 3} .9846446
{txt}{space 24}KEN  {c |}{col 30}{res}{space 2}-.2968521{col 42}{space 2} .3116351{col 53}{space 1}   -0.95{col 62}{space 3}0.341{col 70}{space 4}-.9092965{col 83}{space 3} .3155923
{txt}{space 24}KGZ  {c |}{col 30}{res}{space 2} .0289416{col 42}{space 2} .2673966{col 53}{space 1}    0.11{col 62}{space 3}0.914{col 70}{space 4}-.4965627{col 83}{space 3} .5544459
{txt}{space 24}LBN  {c |}{col 30}{res}{space 2} -.375471{col 42}{space 2} .2380377{col 53}{space 1}   -1.58{col 62}{space 3}0.115{col 70}{space 4}-.8432772{col 83}{space 3} .0923353
{txt}{space 24}LKA  {c |}{col 30}{res}{space 2}-.6560506{col 42}{space 2} .3677182{col 53}{space 1}   -1.78{col 62}{space 3}0.075{col 70}{space 4}-1.378713{col 83}{space 3} .0666119
{txt}{space 24}LSO  {c |}{col 30}{res}{space 2}-.5032372{col 42}{space 2} .7101973{col 53}{space 1}   -0.71{col 62}{space 3}0.479{col 70}{space 4} -1.89896{col 83}{space 3} .8924862
{txt}{space 24}MDA  {c |}{col 30}{res}{space 2}-.2704876{col 42}{space 2}  .375969{col 53}{space 1}   -0.72{col 62}{space 3}0.472{col 70}{space 4}-1.009365{col 83}{space 3} .4683897
{txt}{space 24}MKD  {c |}{col 30}{res}{space 2}-.2612536{col 42}{space 2} .5253549{col 53}{space 1}   -0.50{col 62}{space 3}0.619{col 70}{space 4}-1.293713{col 83}{space 3} .7712061
{txt}{space 24}MNG  {c |}{col 30}{res}{space 2} 1.822028{col 42}{space 2} .2725176{col 53}{space 1}    6.69{col 62}{space 3}0.000{col 70}{space 4} 1.286459{col 83}{space 3} 2.357596
{txt}{space 24}MOZ  {c |}{col 30}{res}{space 2}-.0317123{col 42}{space 2} .5037476{col 53}{space 1}   -0.06{col 62}{space 3}0.950{col 70}{space 4}-1.021708{col 83}{space 3} .9582834
{txt}{space 24}MUS  {c |}{col 30}{res}{space 2}-.2839548{col 42}{space 2} .2545947{col 53}{space 1}   -1.12{col 62}{space 3}0.265{col 70}{space 4}-.7842999{col 83}{space 3} .2163903
{txt}{space 24}NAM  {c |}{col 30}{res}{space 2}-.2251258{col 42}{space 2} .4109199{col 53}{space 1}   -0.55{col 62}{space 3}0.584{col 70}{space 4}-1.032691{col 83}{space 3} .5824392
{txt}{space 24}NGA  {c |}{col 30}{res}{space 2}-.5074786{col 42}{space 2} .2473525{col 53}{space 1}   -2.05{col 62}{space 3}0.041{col 70}{space 4}-.9935909{col 83}{space 3}-.0213664
{txt}{space 24}NIC  {c |}{col 30}{res}{space 2}-.5418413{col 42}{space 2}  .564887{col 53}{space 1}   -0.96{col 62}{space 3}0.338{col 70}{space 4}-1.651992{col 83}{space 3} .5683095
{txt}{space 24}PAK  {c |}{col 30}{res}{space 2}-.0013547{col 42}{space 2} .4873063{col 53}{space 1}   -0.00{col 62}{space 3}0.998{col 70}{space 4}-.9590391{col 83}{space 3} .9563297
{txt}{space 24}PAN  {c |}{col 30}{res}{space 2}-.3155183{col 42}{space 2} .3139587{col 53}{space 1}   -1.00{col 62}{space 3}0.315{col 70}{space 4}-.9325292{col 83}{space 3} .3014925
{txt}{space 24}PER  {c |}{col 30}{res}{space 2}-.1963266{col 42}{space 2} .4525175{col 53}{space 1}   -0.43{col 62}{space 3}0.665{col 70}{space 4}-1.085642{col 83}{space 3} .6929885
{txt}{space 24}PHL  {c |}{col 30}{res}{space 2}-.3626954{col 42}{space 2} .2485802{col 53}{space 1}   -1.46{col 62}{space 3}0.145{col 70}{space 4}-.8512204{col 83}{space 3} .1258297
{txt}{space 24}PNG  {c |}{col 30}{res}{space 2}-.3443803{col 42}{space 2} .7189357{col 53}{space 1}   -0.48{col 62}{space 3}0.632{col 70}{space 4}-1.757277{col 83}{space 3} 1.068516
{txt}{space 24}PRY  {c |}{col 30}{res}{space 2}-.4197519{col 42}{space 2} .4220095{col 53}{space 1}   -0.99{col 62}{space 3}0.320{col 70}{space 4}-1.249111{col 83}{space 3} .4096071
{txt}{space 24}SGP  {c |}{col 30}{res}{space 2}-.0739185{col 42}{space 2}  .278566{col 53}{space 1}   -0.27{col 62}{space 3}0.791{col 70}{space 4}-.6213736{col 83}{space 3} .4735366
{txt}{space 24}SLV  {c |}{col 30}{res}{space 2} -.537112{col 42}{space 2} .7998818{col 53}{space 1}   -0.67{col 62}{space 3}0.502{col 70}{space 4}-2.109089{col 83}{space 3} 1.034865
{txt}{space 24}THA  {c |}{col 30}{res}{space 2}-.2849186{col 42}{space 2} .3875984{col 53}{space 1}   -0.74{col 62}{space 3}0.463{col 70}{space 4}-1.046651{col 83}{space 3} .4768136
{txt}{space 24}TTO  {c |}{col 30}{res}{space 2}-.9045542{col 42}{space 2} .8425323{col 53}{space 1}   -1.07{col 62}{space 3}0.284{col 70}{space 4} -2.56035{col 83}{space 3} .7512421
{txt}{space 24}TUN  {c |}{col 30}{res}{space 2} 1.571457{col 42}{space 2} .3340768{col 53}{space 1}    4.70{col 62}{space 3}0.000{col 70}{space 4} .9149084{col 83}{space 3} 2.228005
{txt}{space 24}UKR  {c |}{col 30}{res}{space 2}-.0544915{col 42}{space 2} .2417671{col 53}{space 1}   -0.23{col 62}{space 3}0.822{col 70}{space 4} -.529627{col 83}{space 3} .4206441
{txt}{space 24}URY  {c |}{col 30}{res}{space 2}-.5026549{col 42}{space 2} .4242103{col 53}{space 1}   -1.18{col 62}{space 3}0.237{col 70}{space 4}-1.336339{col 83}{space 3} .3310293
{txt}{space 24}VEN  {c |}{col 30}{res}{space 2}-.3283445{col 42}{space 2} .2974764{col 53}{space 1}   -1.10{col 62}{space 3}0.270{col 70}{space 4}-.9129634{col 83}{space 3} .2562744
{txt}{space 24}ZAF  {c |}{col 30}{res}{space 2}-.3228359{col 42}{space 2} .2924106{col 53}{space 1}   -1.10{col 62}{space 3}0.270{col 70}{space 4}-.8974993{col 83}{space 3} .2518275
{txt}{space 24}ZMB  {c |}{col 30}{res}{space 2} .0138841{col 42}{space 2} .3845066{col 53}{space 1}    0.04{col 62}{space 3}0.971{col 70}{space 4} -.741772{col 83}{space 3} .7695401
{txt}{space 28} {c |}
{space 24}year {c |}{col 30}{res}{space 2}-.0820914{col 42}{space 2} .0909675{col 53}{space 1}   -0.90{col 62}{space 3}0.367{col 70}{space 4}-.2608663{col 83}{space 3} .0966835
{txt}{space 9}GlobalReserveLevels {c |}{col 30}{res}{space 2}-8.27e-12{col 42}{space 2} 1.47e-11{col 53}{space 1}   -0.56{col 62}{space 3}0.575{col 70}{space 4}-3.72e-11{col 83}{space 3} 2.07e-11
{txt}{space 28} {c |}
c.year#c.GlobalReserveLevels {c |}{col 30}{res}{space 2} 4.14e-15{col 42}{space 2} 7.35e-15{col 53}{space 1}    0.56{col 62}{space 3}0.573{col 70}{space 4}-1.03e-14{col 83}{space 3} 1.86e-14
{txt}{space 28} {c |}
{space 23}_cons {c |}{col 30}{res}{space 2} 164.8104{col 42}{space 2} 182.2175{col 53}{space 1}    0.90{col 62}{space 3}0.366{col 70}{space 4}-193.2946{col 83}{space 3} 522.9154
{txt}{hline 29}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store md1
{txt}
{com}. regress d.log_gt1yrOnly deltaReserves_Imports l.d.log_gt1yrOnly l.Reserves_MonthsOfImports l.US10YrYields_AnnAvg i.country_num c.year##c.GlobalReserveLevels, robust

{txt}Linear regression                               Number of obs     = {res}       439
                                                {txt}{help j_robustsingular:F(49, 386) }       =  {res}        .
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.2747
                                                {txt}Root MSE          =    {res} 1.1708

{txt}{hline 29}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 30}{c |}{col 42}    Robust
{col 1}             D.log_gt1yrOnly{col 30}{c |}      Coef.{col 42}   Std. Err.{col 54}      t{col 62}   P>|t|{col 70}     [95% Con{col 83}f. Interval]
{hline 29}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}deltaReserves_Imports {c |}{col 30}{res}{space 2} .0821541{col 42}{space 2} .0463122{col 53}{space 1}    1.77{col 62}{space 3}0.077{col 70}{space 4}-.0089017{col 83}{space 3} .1732099
{txt}{space 28} {c |}
{space 15}log_gt1yrOnly {c |}
{space 25}LD. {c |}{col 30}{res}{space 2}-.4330892{col 42}{space 2} .0543585{col 53}{space 1}   -7.97{col 62}{space 3}0.000{col 70}{space 4} -.539965{col 83}{space 3}-.3262134
{txt}{space 28} {c |}
{space 4}Reserves_MonthsOfImports {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0025721{col 42}{space 2} .0399721{col 53}{space 1}    0.06{col 62}{space 3}0.949{col 70}{space 4}-.0760182{col 83}{space 3} .0811625
{txt}{space 28} {c |}
{space 9}US10YrYields_AnnAvg {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0686189{col 42}{space 2} .1796881{col 53}{space 1}   -0.38{col 62}{space 3}0.703{col 70}{space 4}-.4219088{col 83}{space 3} .2846711
{txt}{space 28} {c |}
{space 17}country_num {c |}
{space 24}ARG  {c |}{col 30}{res}{space 2}-.2365073{col 42}{space 2} .3737781{col 53}{space 1}   -0.63{col 62}{space 3}0.527{col 70}{space 4}-.9714031{col 83}{space 3} .4983885
{txt}{space 24}BGD  {c |}{col 30}{res}{space 2} 3.560581{col 42}{space 2} .3647946{col 53}{space 1}    9.76{col 62}{space 3}0.000{col 70}{space 4} 2.843348{col 83}{space 3} 4.277814
{txt}{space 24}BGR  {c |}{col 30}{res}{space 2} -.078515{col 42}{space 2} .3240968{col 53}{space 1}   -0.24{col 62}{space 3}0.809{col 70}{space 4} -.715731{col 83}{space 3}  .558701
{txt}{space 24}BIH  {c |}{col 30}{res}{space 2} .0564651{col 42}{space 2} .3525825{col 53}{space 1}    0.16{col 62}{space 3}0.873{col 70}{space 4}-.6367575{col 83}{space 3} .7496877
{txt}{space 24}BOL  {c |}{col 30}{res}{space 2}-.1893529{col 42}{space 2} .6102071{col 53}{space 1}   -0.31{col 62}{space 3}0.756{col 70}{space 4}-1.389099{col 83}{space 3} 1.010393
{txt}{space 24}BRA  {c |}{col 30}{res}{space 2}-.2759463{col 42}{space 2} .3231468{col 53}{space 1}   -0.85{col 62}{space 3}0.394{col 70}{space 4}-.9112945{col 83}{space 3} .3594019
{txt}{space 24}BWA  {c |}{col 30}{res}{space 2} -.343966{col 42}{space 2}  .489943{col 53}{space 1}   -0.70{col 62}{space 3}0.483{col 70}{space 4}-1.307257{col 83}{space 3}  .619325
{txt}{space 24}CYP  {c |}{col 30}{res}{space 2}  -.49012{col 42}{space 2} .3950169{col 53}{space 1}   -1.24{col 62}{space 3}0.215{col 70}{space 4}-1.266774{col 83}{space 3} .2865341
{txt}{space 24}DOM  {c |}{col 30}{res}{space 2} .1515456{col 42}{space 2} .4147245{col 53}{space 1}    0.37{col 62}{space 3}0.715{col 70}{space 4}-.6638561{col 83}{space 3} .9669473
{txt}{space 24}GEO  {c |}{col 30}{res}{space 2}-.2749802{col 42}{space 2} .5365248{col 53}{space 1}   -0.51{col 62}{space 3}0.609{col 70}{space 4}-1.329857{col 83}{space 3} .7798967
{txt}{space 24}GHA  {c |}{col 30}{res}{space 2} .1469428{col 42}{space 2} .4704119{col 53}{space 1}    0.31{col 62}{space 3}0.755{col 70}{space 4}-.7779476{col 83}{space 3} 1.071833
{txt}{space 24}GTM  {c |}{col 30}{res}{space 2}-.3221937{col 42}{space 2} .7969601{col 53}{space 1}   -0.40{col 62}{space 3}0.686{col 70}{space 4} -1.88912{col 83}{space 3} 1.244732
{txt}{space 24}HND  {c |}{col 30}{res}{space 2}-.9449368{col 42}{space 2} .6263736{col 53}{space 1}   -1.51{col 62}{space 3}0.132{col 70}{space 4}-2.176468{col 83}{space 3} .2865943
{txt}{space 24}HRV  {c |}{col 30}{res}{space 2}-.1817902{col 42}{space 2} .2509918{col 53}{space 1}   -0.72{col 62}{space 3}0.469{col 70}{space 4}-.6752724{col 83}{space 3} .3116919
{txt}{space 24}IDN  {c |}{col 30}{res}{space 2}-.1061215{col 42}{space 2} .2888632{col 53}{space 1}   -0.37{col 62}{space 3}0.714{col 70}{space 4}-.6740637{col 83}{space 3} .4618207
{txt}{space 24}IND  {c |}{col 30}{res}{space 2}-.0936794{col 42}{space 2}  .279564{col 53}{space 1}   -0.34{col 62}{space 3}0.738{col 70}{space 4}-.6433382{col 83}{space 3} .4559794
{txt}{space 24}JAM  {c |}{col 30}{res}{space 2}-.3210245{col 42}{space 2} .5694734{col 53}{space 1}   -0.56{col 62}{space 3}0.573{col 70}{space 4}-1.440682{col 83}{space 3} .7986335
{txt}{space 24}KEN  {c |}{col 30}{res}{space 2}-.1148925{col 42}{space 2} .2987979{col 53}{space 1}   -0.38{col 62}{space 3}0.701{col 70}{space 4}-.7023677{col 83}{space 3} .4725827
{txt}{space 24}KGZ  {c |}{col 30}{res}{space 2} .1956279{col 42}{space 2} .2286085{col 53}{space 1}    0.86{col 62}{space 3}0.393{col 70}{space 4} -.253846{col 83}{space 3} .6451017
{txt}{space 24}LBN  {c |}{col 30}{res}{space 2}-.3285243{col 42}{space 2} .4795347{col 53}{space 1}   -0.69{col 62}{space 3}0.494{col 70}{space 4}-1.271351{col 83}{space 3} .6143026
{txt}{space 24}LKA  {c |}{col 30}{res}{space 2}-.3433661{col 42}{space 2} .3688517{col 53}{space 1}   -0.93{col 62}{space 3}0.352{col 70}{space 4}-1.068576{col 83}{space 3} .3818439
{txt}{space 24}LSO  {c |}{col 30}{res}{space 2}-.4642149{col 42}{space 2} .9216736{col 53}{space 1}   -0.50{col 62}{space 3}0.615{col 70}{space 4}-2.276344{col 83}{space 3} 1.347914
{txt}{space 24}MDA  {c |}{col 30}{res}{space 2}-.1676343{col 42}{space 2} .3459457{col 53}{space 1}   -0.48{col 62}{space 3}0.628{col 70}{space 4}-.8478081{col 83}{space 3} .5125395
{txt}{space 24}MKD  {c |}{col 30}{res}{space 2}-.1629318{col 42}{space 2} .4696593{col 53}{space 1}   -0.35{col 62}{space 3}0.729{col 70}{space 4}-1.086343{col 83}{space 3} .7604789
{txt}{space 24}MNG  {c |}{col 30}{res}{space 2}  2.52456{col 42}{space 2} .2804433{col 53}{space 1}    9.00{col 62}{space 3}0.000{col 70}{space 4} 1.973172{col 83}{space 3} 3.075947
{txt}{space 24}MOZ  {c |}{col 30}{res}{space 2} .4655432{col 42}{space 2} .3440228{col 53}{space 1}    1.35{col 62}{space 3}0.177{col 70}{space 4}-.2108499{col 83}{space 3} 1.141936
{txt}{space 24}MUS  {c |}{col 30}{res}{space 2}-.1790789{col 42}{space 2}  .215121{col 53}{space 1}   -0.83{col 62}{space 3}0.406{col 70}{space 4}-.6020346{col 83}{space 3} .2438767
{txt}{space 24}NAM  {c |}{col 30}{res}{space 2}-.0208749{col 42}{space 2}  .382988{col 53}{space 1}   -0.05{col 62}{space 3}0.957{col 70}{space 4}-.7738785{col 83}{space 3} .7321288
{txt}{space 24}NGA  {c |}{col 30}{res}{space 2}-.4459581{col 42}{space 2} .2176339{col 53}{space 1}   -2.05{col 62}{space 3}0.041{col 70}{space 4}-.8738544{col 83}{space 3}-.0180618
{txt}{space 24}NIC  {c |}{col 30}{res}{space 2} -.593948{col 42}{space 2}  .486414{col 53}{space 1}   -1.22{col 62}{space 3}0.223{col 70}{space 4}-1.550301{col 83}{space 3} .3624046
{txt}{space 24}PAK  {c |}{col 30}{res}{space 2}  .038439{col 42}{space 2} .4776313{col 53}{space 1}    0.08{col 62}{space 3}0.936{col 70}{space 4}-.9006457{col 83}{space 3} .9775237
{txt}{space 24}PAN  {c |}{col 30}{res}{space 2}-.2313911{col 42}{space 2} .3172504{col 53}{space 1}   -0.73{col 62}{space 3}0.466{col 70}{space 4}-.8551461{col 83}{space 3}  .392364
{txt}{space 24}PER  {c |}{col 30}{res}{space 2}-.1971694{col 42}{space 2} .4714144{col 53}{space 1}   -0.42{col 62}{space 3}0.676{col 70}{space 4}-1.124031{col 83}{space 3}  .729692
{txt}{space 24}PHL  {c |}{col 30}{res}{space 2}-.2161897{col 42}{space 2} .2473864{col 53}{space 1}   -0.87{col 62}{space 3}0.383{col 70}{space 4}-.7025832{col 83}{space 3} .2702038
{txt}{space 24}PNG  {c |}{col 30}{res}{space 2} -.100726{col 42}{space 2} .6215604{col 53}{space 1}   -0.16{col 62}{space 3}0.871{col 70}{space 4}-1.322794{col 83}{space 3} 1.121342
{txt}{space 24}PRY  {c |}{col 30}{res}{space 2}-.3540367{col 42}{space 2} .4987982{col 53}{space 1}   -0.71{col 62}{space 3}0.478{col 70}{space 4}-1.334738{col 83}{space 3} .6266647
{txt}{space 24}SLV  {c |}{col 30}{res}{space 2}-.4537141{col 42}{space 2} .7785069{col 53}{space 1}   -0.58{col 62}{space 3}0.560{col 70}{space 4}-1.984359{col 83}{space 3} 1.076931
{txt}{space 24}THA  {c |}{col 30}{res}{space 2}-.0677375{col 42}{space 2} .3916447{col 53}{space 1}   -0.17{col 62}{space 3}0.863{col 70}{space 4}-.8377614{col 83}{space 3} .7022863
{txt}{space 24}TTO  {c |}{col 30}{res}{space 2} -.811187{col 42}{space 2} .8987561{col 53}{space 1}   -0.90{col 62}{space 3}0.367{col 70}{space 4}-2.578257{col 83}{space 3} .9558832
{txt}{space 24}TUN  {c |}{col 30}{res}{space 2} 2.568203{col 42}{space 2} .2603834{col 53}{space 1}    9.86{col 62}{space 3}0.000{col 70}{space 4} 2.056256{col 83}{space 3}  3.08015
{txt}{space 24}UKR  {c |}{col 30}{res}{space 2}  .091982{col 42}{space 2} .1999991{col 53}{space 1}    0.46{col 62}{space 3}0.646{col 70}{space 4}-.3012421{col 83}{space 3} .4852061
{txt}{space 24}URY  {c |}{col 30}{res}{space 2}-.3921804{col 42}{space 2} .3678938{col 53}{space 1}   -1.07{col 62}{space 3}0.287{col 70}{space 4}-1.115507{col 83}{space 3} .3311461
{txt}{space 24}VEN  {c |}{col 30}{res}{space 2}-.1822817{col 42}{space 2} .2946143{col 53}{space 1}   -0.62{col 62}{space 3}0.536{col 70}{space 4}-.7615314{col 83}{space 3}  .396968
{txt}{space 24}ZAF  {c |}{col 30}{res}{space 2}-.2327997{col 42}{space 2} .2852694{col 53}{space 1}   -0.82{col 62}{space 3}0.415{col 70}{space 4} -.793676{col 83}{space 3} .3280766
{txt}{space 24}ZMB  {c |}{col 30}{res}{space 2} .1542589{col 42}{space 2} .3354677{col 53}{space 1}    0.46{col 62}{space 3}0.646{col 70}{space 4}-.5053139{col 83}{space 3} .8138317
{txt}{space 28} {c |}
{space 24}year {c |}{col 30}{res}{space 2} .0010988{col 42}{space 2} .1085071{col 53}{space 1}    0.01{col 62}{space 3}0.992{col 70}{space 4}-.2122401{col 83}{space 3} .2144378
{txt}{space 9}GlobalReserveLevels {c |}{col 30}{res}{space 2} 8.79e-12{col 42}{space 2} 2.13e-11{col 53}{space 1}    0.41{col 62}{space 3}0.680{col 70}{space 4}-3.31e-11{col 83}{space 3} 5.07e-11
{txt}{space 28} {c |}
c.year#c.GlobalReserveLevels {c |}{col 30}{res}{space 2}-4.36e-15{col 42}{space 2} 1.06e-14{col 53}{space 1}   -0.41{col 62}{space 3}0.682{col 70}{space 4}-2.53e-14{col 83}{space 3} 1.66e-14
{txt}{space 28} {c |}
{space 23}_cons {c |}{col 30}{res}{space 2}-1.864997{col 42}{space 2} 216.9257{col 53}{space 1}   -0.01{col 62}{space 3}0.993{col 70}{space 4}-428.3688{col 83}{space 3} 424.6388
{txt}{hline 29}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store md2
{txt}
{com}. regress d.log_gt1yrOnly deltaReserves_Imports l.d.log_gt1yrOnly l.Reserves_MonthsOfImports l.US10YrYields_AnnAvg l.GDPpcap l.GDPgrowth l.ny_gdp_totl_rt_zs l.CurrAcctBal_PerGDP l.ExtDebtStocks_PerGNI l.DebtService_PerGDP l.Inflation_annGDPdeflator l.PegBandManaged_NoUnion l.lvaw_garriga l.Taxes_PerGDP l.BestCRtg l.cyrs l.dyrs l.v2x_polyarchy l.Left i.country_num c.year##c.GlobalReserveLevels, robust

{txt}Linear regression                               Number of obs     = {res}       329
                                                {txt}{help j_robustsingular:F(55, 270) }       =  {res}        .
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.3939
                                                {txt}Root MSE          =    {res} 1.0721

{txt}{hline 29}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 30}{c |}{col 42}    Robust
{col 1}             D.log_gt1yrOnly{col 30}{c |}      Coef.{col 42}   Std. Err.{col 54}      t{col 62}   P>|t|{col 70}     [95% Con{col 83}f. Interval]
{hline 29}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}deltaReserves_Imports {c |}{col 30}{res}{space 2}  .095814{col 42}{space 2} .0630291{col 53}{space 1}    1.52{col 62}{space 3}0.130{col 70}{space 4} -.028277{col 83}{space 3} .2199049
{txt}{space 28} {c |}
{space 15}log_gt1yrOnly {c |}
{space 25}LD. {c |}{col 30}{res}{space 2}-.4957982{col 42}{space 2} .0599943{col 53}{space 1}   -8.26{col 62}{space 3}0.000{col 70}{space 4}-.6139143{col 83}{space 3}-.3776822
{txt}{space 28} {c |}
{space 4}Reserves_MonthsOfImports {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0806469{col 42}{space 2} .0564289{col 53}{space 1}    1.43{col 62}{space 3}0.154{col 70}{space 4}-.0304497{col 83}{space 3} .1917436
{txt}{space 28} {c |}
{space 9}US10YrYields_AnnAvg {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}   .12489{col 42}{space 2}  .189409{col 53}{space 1}    0.66{col 62}{space 3}0.510{col 70}{space 4}-.2480163{col 83}{space 3} .4977963
{txt}{space 28} {c |}
{space 21}GDPpcap {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0001023{col 42}{space 2} .0001236{col 53}{space 1}    0.83{col 62}{space 3}0.409{col 70}{space 4} -.000141{col 83}{space 3} .0003456
{txt}{space 28} {c |}
{space 19}GDPgrowth {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0384857{col 42}{space 2} .0211255{col 53}{space 1}   -1.82{col 62}{space 3}0.070{col 70}{space 4}-.0800773{col 83}{space 3} .0031059
{txt}{space 28} {c |}
{space 11}ny_gdp_totl_rt_zs {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0094411{col 42}{space 2} .0407582{col 53}{space 1}   -0.23{col 62}{space 3}0.817{col 70}{space 4}-.0896854{col 83}{space 3} .0708033
{txt}{space 28} {c |}
{space 10}CurrAcctBal_PerGDP {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0213876{col 42}{space 2} .0164609{col 53}{space 1}    1.30{col 62}{space 3}0.195{col 70}{space 4}-.0110205{col 83}{space 3} .0537956
{txt}{space 28} {c |}
{space 8}ExtDebtStocks_PerGNI {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0011189{col 42}{space 2} .0036601{col 53}{space 1}    0.31{col 62}{space 3}0.760{col 70}{space 4} -.006087{col 83}{space 3} .0083249
{txt}{space 28} {c |}
{space 10}DebtService_PerGDP {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} 2.790108{col 42}{space 2} 8.029762{col 53}{space 1}    0.35{col 62}{space 3}0.729{col 70}{space 4} -13.0188{col 83}{space 3} 18.59902
{txt}{space 28} {c |}
{space 4}Inflation_annGDPdeflator {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0385355{col 42}{space 2}  .011763{col 53}{space 1}    3.28{col 62}{space 3}0.001{col 70}{space 4} .0153766{col 83}{space 3} .0616944
{txt}{space 28} {c |}
{space 6}PegBandManaged_NoUnion {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-.0318129{col 42}{space 2} .2079405{col 53}{space 1}   -0.15{col 62}{space 3}0.879{col 70}{space 4}-.4412039{col 83}{space 3} .3775781
{txt}{space 28} {c |}
{space 16}lvaw_garriga {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-2.736268{col 42}{space 2} 3.047658{col 53}{space 1}   -0.90{col 62}{space 3}0.370{col 70}{space 4}-8.736463{col 83}{space 3} 3.263928
{txt}{space 28} {c |}
{space 16}Taxes_PerGDP {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} 7.205703{col 42}{space 2}  5.19891{col 53}{space 1}    1.39{col 62}{space 3}0.167{col 70}{space 4}-3.029854{col 83}{space 3} 17.44126
{txt}{space 28} {c |}
{space 20}BestCRtg {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0457394{col 42}{space 2} .0576456{col 53}{space 1}    0.79{col 62}{space 3}0.428{col 70}{space 4}-.0677526{col 83}{space 3} .1592313
{txt}{space 28} {c |}
{space 24}cyrs {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} -.030253{col 42}{space 2}  .028015{col 53}{space 1}   -1.08{col 62}{space 3}0.281{col 70}{space 4}-.0854087{col 83}{space 3} .0249027
{txt}{space 28} {c |}
{space 24}dyrs {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0026605{col 42}{space 2} .0308456{col 53}{space 1}    0.09{col 62}{space 3}0.931{col 70}{space 4}-.0580681{col 83}{space 3}  .063389
{txt}{space 28} {c |}
{space 15}v2x_polyarchy {c |}
{space 25}L1. {c |}{col 30}{res}{space 2}-1.215993{col 42}{space 2} 1.886432{col 53}{space 1}   -0.64{col 62}{space 3}0.520{col 70}{space 4} -4.92998{col 83}{space 3} 2.497993
{txt}{space 28} {c |}
{space 21}LeftGov {c |}
{space 25}L1. {c |}{col 30}{res}{space 2} .0265832{col 42}{space 2} .2834184{col 53}{space 1}    0.09{col 62}{space 3}0.925{col 70}{space 4}-.5314078{col 83}{space 3} .5845743
{txt}{space 28} {c |}
{space 17}country_num {c |}
{space 24}ARG  {c |}{col 30}{res}{space 2}-2.108332{col 42}{space 2} 1.360353{col 53}{space 1}   -1.55{col 62}{space 3}0.122{col 70}{space 4} -4.78658{col 83}{space 3} .5699158
{txt}{space 24}BGD  {c |}{col 30}{res}{space 2} 4.345026{col 42}{space 2} 1.617405{col 53}{space 1}    2.69{col 62}{space 3}0.008{col 70}{space 4} 1.160696{col 83}{space 3} 7.529356
{txt}{space 24}BGR  {c |}{col 30}{res}{space 2} .0819884{col 42}{space 2} .8494168{col 53}{space 1}    0.10{col 62}{space 3}0.923{col 70}{space 4}-1.590334{col 83}{space 3} 1.754311
{txt}{space 24}BIH  {c |}{col 30}{res}{space 2} .3853956{col 42}{space 2} .9454896{col 53}{space 1}    0.41{col 62}{space 3}0.684{col 70}{space 4}-1.476074{col 83}{space 3} 2.246865
{txt}{space 24}BRA  {c |}{col 30}{res}{space 2}-2.787034{col 42}{space 2} 1.653617{col 53}{space 1}   -1.69{col 62}{space 3}0.093{col 70}{space 4}-6.042657{col 83}{space 3} .4685891
{txt}{space 24}BWA  {c |}{col 30}{res}{space 2}-2.025198{col 42}{space 2} 1.089727{col 53}{space 1}   -1.86{col 62}{space 3}0.064{col 70}{space 4}-4.170641{col 83}{space 3} .1202454
{txt}{space 24}DOM  {c |}{col 30}{res}{space 2} .0402851{col 42}{space 2} .6950852{col 53}{space 1}    0.06{col 62}{space 3}0.954{col 70}{space 4}-1.328191{col 83}{space 3} 1.408761
{txt}{space 24}GEO  {c |}{col 30}{res}{space 2}-.2760263{col 42}{space 2} .7409667{col 53}{space 1}   -0.37{col 62}{space 3}0.710{col 70}{space 4}-1.734833{col 83}{space 3} 1.182781
{txt}{space 24}GHA  {c |}{col 30}{res}{space 2} .1829092{col 42}{space 2} 1.109531{col 53}{space 1}    0.16{col 62}{space 3}0.869{col 70}{space 4}-2.001524{col 83}{space 3} 2.367342
{txt}{space 24}GTM  {c |}{col 30}{res}{space 2}  .762887{col 42}{space 2} 1.060159{col 53}{space 1}    0.72{col 62}{space 3}0.472{col 70}{space 4}-1.324342{col 83}{space 3} 2.850116
{txt}{space 24}HND  {c |}{col 30}{res}{space 2}-.7445617{col 42}{space 2} .6853857{col 53}{space 1}   -1.09{col 62}{space 3}0.278{col 70}{space 4}-2.093941{col 83}{space 3} .6048181
{txt}{space 24}IDN  {c |}{col 30}{res}{space 2} .6356794{col 42}{space 2} .7199885{col 53}{space 1}    0.88{col 62}{space 3}0.378{col 70}{space 4} -.781826{col 83}{space 3} 2.053185
{txt}{space 24}IND  {c |}{col 30}{res}{space 2}-.6876823{col 42}{space 2} 1.307444{col 53}{space 1}   -0.53{col 62}{space 3}0.599{col 70}{space 4}-3.261764{col 83}{space 3} 1.886399
{txt}{space 24}JAM  {c |}{col 30}{res}{space 2} -1.84158{col 42}{space 2} 1.136692{col 53}{space 1}   -1.62{col 62}{space 3}0.106{col 70}{space 4}-4.079487{col 83}{space 3} .3963266
{txt}{space 24}KEN  {c |}{col 30}{res}{space 2}-.1944846{col 42}{space 2}  .870718{col 53}{space 1}   -0.22{col 62}{space 3}0.823{col 70}{space 4}-1.908745{col 83}{space 3} 1.519776
{txt}{space 24}KGZ  {c |}{col 30}{res}{space 2}-.1325769{col 42}{space 2}  .800324{col 53}{space 1}   -0.17{col 62}{space 3}0.869{col 70}{space 4}-1.708246{col 83}{space 3} 1.443092
{txt}{space 24}LBN  {c |}{col 30}{res}{space 2}-2.376684{col 42}{space 2} 2.039468{col 53}{space 1}   -1.17{col 62}{space 3}0.245{col 70}{space 4}-6.391965{col 83}{space 3} 1.638598
{txt}{space 24}LKA  {c |}{col 30}{res}{space 2}-.1734649{col 42}{space 2} .8469552{col 53}{space 1}   -0.20{col 62}{space 3}0.838{col 70}{space 4}-1.840941{col 83}{space 3} 1.494011
{txt}{space 24}LSO  {c |}{col 30}{res}{space 2}-2.468147{col 42}{space 2} 1.262896{col 53}{space 1}   -1.95{col 62}{space 3}0.052{col 70}{space 4}-4.954523{col 83}{space 3} .0182286
{txt}{space 24}MDA  {c |}{col 30}{res}{space 2}-.5920511{col 42}{space 2} .5393183{col 53}{space 1}   -1.10{col 62}{space 3}0.273{col 70}{space 4}-1.653855{col 83}{space 3} .4697528
{txt}{space 24}MNG  {c |}{col 30}{res}{space 2} 2.589286{col 42}{space 2} .8961479{col 53}{space 1}    2.89{col 62}{space 3}0.004{col 70}{space 4} .8249593{col 83}{space 3} 4.353612
{txt}{space 24}MOZ  {c |}{col 30}{res}{space 2} .1402666{col 42}{space 2} 1.801099{col 53}{space 1}    0.08{col 62}{space 3}0.938{col 70}{space 4}-3.405717{col 83}{space 3}  3.68625
{txt}{space 24}MUS  {c |}{col 30}{res}{space 2}-.1017506{col 42}{space 2} .8656297{col 53}{space 1}   -0.12{col 62}{space 3}0.907{col 70}{space 4}-1.805993{col 83}{space 3} 1.602492
{txt}{space 24}NIC  {c |}{col 30}{res}{space 2}-.0310172{col 42}{space 2} .7056246{col 53}{space 1}   -0.04{col 62}{space 3}0.965{col 70}{space 4}-1.420243{col 83}{space 3} 1.358209
{txt}{space 24}PAK  {c |}{col 30}{res}{space 2} .2643778{col 42}{space 2} 1.709099{col 53}{space 1}    0.15{col 62}{space 3}0.877{col 70}{space 4}-3.100479{col 83}{space 3} 3.629234
{txt}{space 24}PAN  {c |}{col 30}{res}{space 2} .1087398{col 42}{space 2} 1.926438{col 53}{space 1}    0.06{col 62}{space 3}0.955{col 70}{space 4}-3.684009{col 83}{space 3} 3.901489
{txt}{space 24}PER  {c |}{col 30}{res}{space 2} .4103125{col 42}{space 2} .7661661{col 53}{space 1}    0.54{col 62}{space 3}0.593{col 70}{space 4}-1.098107{col 83}{space 3} 1.918732
{txt}{space 24}PHL  {c |}{col 30}{res}{space 2} -.237713{col 42}{space 2}  .549369{col 53}{space 1}   -0.43{col 62}{space 3}0.666{col 70}{space 4}-1.319305{col 83}{space 3} .8438787
{txt}{space 24}PNG  {c |}{col 30}{res}{space 2}-.2439655{col 42}{space 2} 1.165292{col 53}{space 1}   -0.21{col 62}{space 3}0.834{col 70}{space 4}-2.538179{col 83}{space 3} 2.050248
{txt}{space 24}PRY  {c |}{col 30}{res}{space 2} -.350677{col 42}{space 2} .8051385{col 53}{space 1}   -0.44{col 62}{space 3}0.664{col 70}{space 4}-1.935825{col 83}{space 3} 1.234471
{txt}{space 24}SLV  {c |}{col 30}{res}{space 2} .2094463{col 42}{space 2} .9138937{col 53}{space 1}    0.23{col 62}{space 3}0.819{col 70}{space 4}-1.589818{col 83}{space 3}  2.00871
{txt}{space 24}THA  {c |}{col 30}{res}{space 2}-1.415746{col 42}{space 2} 1.652608{col 53}{space 1}   -0.86{col 62}{space 3}0.392{col 70}{space 4}-4.669384{col 83}{space 3} 1.837891
{txt}{space 24}TUN  {c |}{col 30}{res}{space 2} 3.660939{col 42}{space 2} 1.219491{col 53}{space 1}    3.00{col 62}{space 3}0.003{col 70}{space 4} 1.260017{col 83}{space 3}  6.06186
{txt}{space 24}UKR  {c |}{col 30}{res}{space 2}-.4257112{col 42}{space 2} .7286713{col 53}{space 1}   -0.58{col 62}{space 3}0.560{col 70}{space 4}-1.860311{col 83}{space 3} 1.008889
{txt}{space 24}ZAF  {c |}{col 30}{res}{space 2}-1.777078{col 42}{space 2}  1.36368{col 53}{space 1}   -1.30{col 62}{space 3}0.194{col 70}{space 4}-4.461877{col 83}{space 3} .9077201
{txt}{space 24}ZMB  {c |}{col 30}{res}{space 2}-.1111613{col 42}{space 2} 1.155577{col 53}{space 1}   -0.10{col 62}{space 3}0.923{col 70}{space 4}-2.386248{col 83}{space 3} 2.163926
{txt}{space 28} {c |}
{space 24}year {c |}{col 30}{res}{space 2}-.1251794{col 42}{space 2} .1095428{col 53}{space 1}   -1.14{col 62}{space 3}0.254{col 70}{space 4}-.3408461{col 83}{space 3} .0904873
{txt}{space 9}GlobalReserveLevels {c |}{col 30}{res}{space 2}-2.49e-11{col 42}{space 2} 2.12e-11{col 53}{space 1}   -1.18{col 62}{space 3}0.240{col 70}{space 4}-6.66e-11{col 83}{space 3} 1.67e-11
{txt}{space 28} {c |}
c.year#c.GlobalReserveLevels {c |}{col 30}{res}{space 2} 1.25e-14{col 42}{space 2} 1.06e-14{col 53}{space 1}    1.18{col 62}{space 3}0.239{col 70}{space 4}-8.32e-15{col 83}{space 3} 3.33e-14
{txt}{space 28} {c |}
{space 23}_cons {c |}{col 30}{res}{space 2} 250.6008{col 42}{space 2}  219.032{col 53}{space 1}    1.14{col 62}{space 3}0.254{col 70}{space 4} -180.627{col 83}{space 3} 681.8287
{txt}{hline 29}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store md3
{txt}
{com}. 
. 
. estout md1 md2 md3, cells(b(star fmt(%9.3f)) se(par fmt(%9.3f))) starlevels(* 0.1 ** 0.05 ) ///
> stats(r2 N , fmt(%9.2f %9.0f) labels("R2" ))  style(tex) ///
> legend label collabels(none) ///
> varlabels(_cons Constant "LD.log_gt1yrOnly" "LaggedDV")  ///
> order(deltaReserves_Imports LD.log_gt1yrOnly L.Reserves_MonthsOfImports L.US10YrYields_AnnAvg   ) ///
> keep(deltaReserves_Imports L.Reserves_MonthsOfImports L.US10YrYields_AnnAvg LD.log_gt1yrOnly) ///
> mlabels ("Model 1"  "Model 2") ///
> title("")
{res}
                    &     Model 1  &     Model 2  &         md3  \\
deltaReserves_Imports&       0.123**&       0.082* &       0.096  \\
                    &     (0.047)  &     (0.046)  &     (0.063)  \\
LaggedDV            &              &      -0.433**&      -0.496**\\
                    &              &     (0.054)  &     (0.060)  \\
L.Reserves_MonthsOfImports&              &       0.003  &       0.081  \\
                    &              &     (0.040)  &     (0.056)  \\
L.US10YrYields_AnnAvg&              &      -0.069  &       0.125  \\
                    &              &     (0.180)  &     (0.189)  \\
R2                  &        0.08  &        0.27  &        0.39  \\
N                   &         502  &         439  &         329  \\
* p<0.1, ** p<0.05
{txt}
{com}. 
. ***************************************************************************************************************************************************************************
. *Section K: Additional Interflex binned graphs for monthly 
. 
. *Re-create preelec_share2
. gen preelec_share2 = preelec_share 
{txt}(265 missing values generated)

{com}. replace preelec_share2 = 1 if F.ElectionPeriod==1 & ElectionPeriod==1 & year <=2020     
{txt}(220 real changes made)

{com}. 
. *prep variables for interflex
. *country and year dummies
. tab country_num , g(cc_)

{txt}country_num {c |}      Freq.     Percent        Cum.
{hline 12}{c +}{hline 35}
        ABW {c |}{res}          2        0.13        0.13
{txt}        ALB {c |}{res}         23        1.51        1.65
{txt}        AND {c |}{res}          2        0.13        1.78
{txt}        ARG {c |}{res}         24        1.58        3.36
{txt}        ARM {c |}{res}          8        0.53        3.88
{txt}        ASM {c |}{res}          2        0.13        4.02
{txt}        ATG {c |}{res}          2        0.13        4.15
{txt}        BEN {c |}{res}         22        1.45        5.60
{txt}        BFA {c |}{res}         21        1.38        6.98
{txt}        BGD {c |}{res}          8        0.53        7.50
{txt}        BGR {c |}{res}         24        1.58        9.08
{txt}        BHS {c |}{res}          2        0.13        9.22
{txt}        BIH {c |}{res}         24        1.58       10.80
{txt}        BLZ {c |}{res}          2        0.13       10.93
{txt}        BMU {c |}{res}          2        0.13       11.06
{txt}        BOL {c |}{res}         23        1.51       12.57
{txt}        BRA {c |}{res}         24        1.58       14.15
{txt}        BRB {c |}{res}          2        0.13       14.29
{txt}        BRN {c |}{res}          2        0.13       14.42
{txt}        BTN {c |}{res}          2        0.13       14.55
{txt}        BWA {c |}{res}         24        1.58       16.13
{txt}        CIV {c |}{res}         23        1.51       17.64
{txt}        CPV {c |}{res}          2        0.13       17.77
{txt}        CUW {c |}{res}          2        0.13       17.91
{txt}        CYM {c |}{res}          2        0.13       18.04
{txt}        CYP {c |}{res}         21        1.38       19.42
{txt}        DMA {c |}{res}          2        0.13       19.55
{txt}        DOM {c |}{res}         24        1.58       21.13
{txt}        ECU {c |}{res}         24        1.58       22.71
{txt}        FJI {c |}{res}          1        0.07       22.78
{txt}        FRO {c |}{res}          2        0.13       22.91
{txt}        FSM {c |}{res}          2        0.13       23.04
{txt}        GEO {c |}{res}         20        1.32       24.36
{txt}        GHA {c |}{res}         24        1.58       25.94
{txt}        GIB {c |}{res}          2        0.13       26.07
{txt}        GMB {c |}{res}          7        0.46       26.53
{txt}        GNB {c |}{res}         18        1.18       27.72
{txt}        GRD {c |}{res}          2        0.13       27.85
{txt}        GRL {c |}{res}          2        0.13       27.98
{txt}        GTM {c |}{res}         24        1.58       29.56
{txt}        GUM {c |}{res}          2        0.13       29.69
{txt}        GUY {c |}{res}          2        0.13       29.82
{txt}        HND {c |}{res}         16        1.05       30.88
{txt}        HRV {c |}{res}         24        1.58       32.46
{txt}        HTI {c |}{res}          8        0.53       32.98
{txt}        IDN {c |}{res}         24        1.58       34.56
{txt}        IMN {c |}{res}          2        0.13       34.69
{txt}        IND {c |}{res}         20        1.32       36.01
{txt}        IRQ {c |}{res}          6        0.39       36.41
{txt}        JAM {c |}{res}         24        1.58       37.99
{txt}        KEN {c |}{res}         19        1.25       39.24
{txt}        KGZ {c |}{res}          9        0.59       39.83
{txt}        KIR {c |}{res}          2        0.13       39.96
{txt}        KNA {c |}{res}          2        0.13       40.09
{txt}        LBN {c |}{res}         16        1.05       41.15
{txt}        LBR {c |}{res}         18        1.18       42.33
{txt}        LBY {c |}{res}          1        0.07       42.40
{txt}        LCA {c |}{res}          2        0.13       42.53
{txt}        LIE {c |}{res}          2        0.13       42.66
{txt}        LKA {c |}{res}         16        1.05       43.71
{txt}        LSO {c |}{res}         22        1.45       45.16
{txt}        MAC {c |}{res}          2        0.13       45.29
{txt}        MAF {c |}{res}          2        0.13       45.42
{txt}        MCO {c |}{res}          2        0.13       45.56
{txt}        MDA {c |}{res}         24        1.58       47.14
{txt}        MDG {c |}{res}         19        1.25       48.39
{txt}        MDV {c |}{res}          2        0.13       48.52
{txt}        MHL {c |}{res}          2        0.13       48.65
{txt}        MKD {c |}{res}         24        1.58       50.23
{txt}        MLI {c |}{res}         18        1.18       51.42
{txt}        MLT {c |}{res}          2        0.13       51.55
{txt}        MMR {c |}{res}          2        0.13       51.68
{txt}        MNE {c |}{res}          2        0.13       51.81
{txt}        MNG {c |}{res}         24        1.58       53.39
{txt}        MNP {c |}{res}          2        0.13       53.52
{txt}        MOZ {c |}{res}         17        1.12       54.64
{txt}        MRT {c |}{res}          7        0.46       55.10
{txt}        MUS {c |}{res}         24        1.58       56.68
{txt}        MWI {c |}{res}         24        1.58       58.26
{txt}        MYS {c |}{res}          6        0.39       58.66
{txt}        NAM {c |}{res}         24        1.58       60.24
{txt}        NCL {c |}{res}          2        0.13       60.37
{txt}        NER {c |}{res}         22        1.45       61.82
{txt}        NGA {c |}{res}         19        1.25       63.07
{txt}        NIC {c |}{res}         12        0.79       63.86
{txt}        NPL {c |}{res}         14        0.92       64.78
{txt}        NRU {c |}{res}          2        0.13       64.91
{txt}        PAK {c |}{res}          9        0.59       65.50
{txt}        PAN {c |}{res}         24        1.58       67.08
{txt}        PER {c |}{res}         23        1.51       68.60
{txt}        PHL {c |}{res}         24        1.58       70.18
{txt}        PLW {c |}{res}          2        0.13       70.31
{txt}        PNG {c |}{res}         24        1.58       71.89
{txt}        PRI {c |}{res}         24        1.58       73.47
{txt}        PRY {c |}{res}         24        1.58       75.05
{txt}        PSE {c |}{res}         24        1.58       76.63
{txt}        PYF {c |}{res}          2        0.13       76.76
{txt}        ROU {c |}{res}         24        1.58       78.34
{txt}        SEN {c |}{res}         24        1.58       79.92
{txt}        SGP {c |}{res}          4        0.26       80.18
{txt}        SLB {c |}{res}          2        0.13       80.32
{txt}        SLE {c |}{res}         21        1.38       81.70
{txt}        SLV {c |}{res}         21        1.38       83.08
{txt}        SMR {c |}{res}          2        0.13       83.21
{txt}        SRB {c |}{res}         15        0.99       84.20
{txt}        SSD {c |}{res}         11        0.72       84.92
{txt}        STP {c |}{res}          2        0.13       85.06
{txt}        SUR {c |}{res}          2        0.13       85.19
{txt}        SXM {c |}{res}          2        0.13       85.32
{txt}        SYC {c |}{res}          2        0.13       85.45
{txt}        TCA {c |}{res}          2        0.13       85.58
{txt}        TGO {c |}{res}         14        0.92       86.50
{txt}        THA {c |}{res}         10        0.66       87.16
{txt}        TLS {c |}{res}         17        1.12       88.28
{txt}        TON {c |}{res}          2        0.13       88.41
{txt}        TTO {c |}{res}         24        1.58       89.99
{txt}        TUN {c |}{res}         11        0.72       90.72
{txt}        TUV {c |}{res}          2        0.13       90.85
{txt}        TZA {c |}{res}         17        1.12       91.97
{txt}        UKR {c |}{res}         15        0.99       92.96
{txt}        URY {c |}{res}         24        1.58       94.54
{txt}        VCT {c |}{res}          2        0.13       94.67
{txt}        VEN {c |}{res}         11        0.72       95.39
{txt}        VGB {c |}{res}          2        0.13       95.52
{txt}        VIR {c |}{res}          2        0.13       95.66
{txt}        WSM {c |}{res}          2        0.13       95.79
{txt}        XKX {c |}{res}         22        1.45       97.24
{txt}        ZAF {c |}{res}         24        1.58       98.82
{txt}        ZMB {c |}{res}         18        1.18      100.00
{txt}{hline 12}{c +}{hline 35}
      Total {c |}{res}      1,519      100.00
{txt}
{com}. tab year, g(yr_)

       {txt}year {c |}      Freq.     Percent        Cum.
{hline 12}{c +}{hline 35}
       2000 {c |}{res}         51        3.36        3.36
{txt}       2001 {c |}{res}         54        3.55        6.91
{txt}       2002 {c |}{res}         55        3.62       10.53
{txt}       2003 {c |}{res}         57        3.75       14.29
{txt}       2004 {c |}{res}         57        3.75       18.04
{txt}       2005 {c |}{res}         59        3.88       21.92
{txt}       2006 {c |}{res}         59        3.88       25.81
{txt}       2007 {c |}{res}         62        4.08       29.89
{txt}       2008 {c |}{res}         62        4.08       33.97
{txt}       2009 {c |}{res}         63        4.15       38.12
{txt}       2010 {c |}{res}         64        4.21       42.33
{txt}       2011 {c |}{res}         64        4.21       46.54
{txt}       2012 {c |}{res}         62        4.08       50.63
{txt}       2013 {c |}{res}         61        4.02       54.64
{txt}       2014 {c |}{res}         63        4.15       58.79
{txt}       2015 {c |}{res}         63        4.15       62.94
{txt}       2016 {c |}{res}         62        4.08       67.02
{txt}       2017 {c |}{res}         60        3.95       70.97
{txt}       2018 {c |}{res}         60        3.95       74.92
{txt}       2019 {c |}{res}         60        3.95       78.87
{txt}       2020 {c |}{res}         56        3.69       82.55
{txt}       2021 {c |}{res}         55        3.62       86.18
{txt}       2022 {c |}{res}        104        6.85       93.02
{txt}       2023 {c |}{res}        106        6.98      100.00
{txt}{hline 12}{c +}{hline 35}
      Total {c |}{res}      1,519      100.00
{txt}
{com}. *LDV
. gen ldeltaReserves_Imports = L.deltaReserves_Imports
{txt}(405 missing values generated)

{com}. *Manual year trends
. gen yearGR = year*GlobalReserveLevels
{txt}
{com}. 
. global trends yearGR year GlobalReserveLevels
{txt}
{com}. 
. *Controls
. global cntall GDPpcap GDPgrowth ny_gdp_totl_rt_zs CurrAcctBal_PerGDP ExtDebtStocks_PerGNI DebtService_PerGDP Inflation_annGDPdeflator PegBandManaged_NoUnion lvaw_garriga Taxes_PerGDP BestCRtg cyrs dyrs v2x_polyarchy Left
{txt}
{com}. 
. foreach var in GDPpcap GDPgrowth ny_gdp_totl_rt_zs CurrAcctBal_PerGDP ExtDebtStocks_PerGNI DebtService_PerGDP Inflation_annGDPdeflator PegBandManaged_NoUnion lvaw_garriga Taxes_PerGDP BestCRtg cyrs dyrs v2x_polyarchy Left {c -(}
{txt}  2{com}.         gen lagx_`var' = l.`var'
{txt}  3{com}.         {c )-}
{txt}(200 missing values generated)
(191 missing values generated)
(407 missing values generated)
(254 missing values generated)
(398 missing values generated)
(393 missing values generated)
(191 missing values generated)
(343 missing values generated)
(492 missing values generated)
(358 missing values generated)
(286 missing values generated)
(373 missing values generated)
(284 missing values generated)
(280 missing values generated)
(400 missing values generated)

{com}.         
.         
.         
. 
. 
.   *Figure K1 : Election Share (model 6) Bin
. 
.  
.   interflex deltaReserves_Imports  preelec_share US10YrYields_AnnAvg ldeltaReserves_Imports $trends postelec_share lagx_* cc_*, vce(robust) nbins(4)  ylabel("Reserves") dlabel("Election Share")  xlabel("US Rates")   
{txt}p value of Wald test: {res}0.0000
{txt}
{com}. 
.  
. 
.  
.   *Figure K2 : Election  Share (model 8) Bin
. 
.   interflex deltaReserves_Imports  preelec_share2 US10YrYields_AnnAvg ldeltaReserves_Imports $trends postelec_share lagx_* cc_*, vce(robust) nbins(4)  ylabel("Reserves") dlabel("Election Share")  xlabel("US Rates")  
{txt}p value of Wald test: {res}0.0000
{txt}
{com}. 
.  
. 
{txt}end of do-file

{com}. log close
      {txt}name:  {res}<unnamed>
       {txt}log:  {res}/Users/ben/Dropbox/Reserves/Manuscript/ISQ/Revision/_Acceptance/Replication/AppendixReplicationLog.smcl
  {txt}log type:  {res}smcl
 {txt}closed on:  {res} 8 May 2025, 13:30:56
{txt}{.-}
{smcl}
{txt}{sf}{ul off}